Solow-Swan Model

THE SOLOW-SWAN MODEL

 

The theory was developed by Robert Solow (MIT) and his model shows how savings, population growth, and technological progress can affect the level of an economy’s output and its growth over time. Today, his theory is §widely used in policy making as it is a benchmark against which most recent growth theories are compared. It also looks at the determinants of economic growth and the standard of living in the long run.

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