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Магістерська дисертація: 100 с., 24 рис., 23 табл., 16 джерел. Об’єкт дослідження – закон еволюційного розвитку технологій та інноваційних процесів. Предмет дослідження: моделювання та прогнозування росту економіки та зміни технологій на прикладі s-функції Річардса. Мета роботи – дослідження зростання економіки країни за допомогою узагальненої моделі Солоу на основі s-функції Річардса та залишку Солоу. Актуальність теми: в умовах інтенсивно мінливих зовнішніх і внутрішніх умов особливої актуальності для країн набула проблема вироблення стратегії економічного зростання і постійного вдосконалення власної методології довгострокового планування, яка б враховувала особливості соціально-економічної ситуації, що склалася в країні. У рамках цієї проблеми найскладніші завдання пов'язані з оцінкою перспектив якісного вдосконалення процесу відтворення та виявлення вкладу факторів його інтенсифікації у кінцеві результати економічного зростання. Подальший розвиток предмету дослідження – розгляд більш складних s- функції для дослідження росту економіки та вибір ефективних стратегій економічної політики. Master’s Thesis 100 pp., 24 Fig., 23 tables, 16 sources. Object of a research – the law of evolutionary technological development and innovation processes. Topic of a research: modelling and forecasting the growth of economy and changes in technology on the example of Weibull s-function. The aim of the work – research of the country's economic growth using a generalized Solow model based on Richards s-function Richards and Solow residual. Relevance of the topic: in the conditions of intensively changing external and internal conditions the problem of developing a strategy of economic growth and constantly improving their own methodology of long-term planning, which would take into account the socio-economic situation in the country. Within the framework of this problem, the most difficult tasks are related to assessing the prospects for qualitative improvement of the reproduction process and identifying the contribution of factors of its intensification to the final results of economic growth. Further development of the subject of research - consideration of more complex s-functions for the study of economic growth and the choice of effective economic policy strategies.

This paper tests the hypothesis in the revised endogenous dynamic Solow model that there exists dynamic convergence to the moving steady-state as a single economy grows. The convergence in the revised endogenous dynamic Solow model implies that the real interest rate and the growth rate of income per capita in an economy would move together, i.e., they would be cointegrated in empirical terms. Taking the U.S. economy as our research subject, we test this hypothesis by investigating the cointegration between the U.S. real interest rate and its growth rate of income per capita during a fifty-year period from 1951 to 2000. Our results show that the U.S. real interest rate and its growth rate of income per capita move together over time, providing strong evidence to support the dynamic convergence hypothesis.

In this work we consider labor mobility in the spatial Solow model for economic growth. Besides considering that labor diffuses from regions with higher density to regions with lower density of labor, we consider that workers move from regions with lower density of capital to regions with higher density of capital, and that the labor force grows following a logistic law. Through stability analysis, we show that the introduction of capital-induced labor migration in the Solow model is a necessary condition for reaching an unstable regime that can generate a rich spatio-temporal dynamics. Numerical simulations show that, depending on the migration intensity and on the size of the economy, this modified Solow model can develop, endogenously, four kinds of behavior for the economy: (i) convergence to a homogeneous steady-state; (ii) convergence to a non-homogeneous steady-state; (iii) development of periodic spatio-temporal cycles; and (iv) development of irregular and aperiodic spatio-temporal cycles.

We develop a graphical framework that allows students to easily see that a change in the growth rate of population and the growth rate of efficiency of labor have different impacts on the time path of capital and output per unit of labor.

I estimate a Solow model augmented with human capital in 42 countries for 1910–2000. Estimated TFP growth is 0.3%/year, and the steady-state rate for GDP/capita is 1.0%/year. Implicitly for high-income countries maintaining growth above this rate will be increasingly difficult.

In the extended Solow growth model of Mankiw et al. (1992), human capital has only permanent level and no growth effects. In the endogenous growth models human capital is a growth-improving variable. Human capital may have both a permanent level and a permanent growth effect, we show how both can be estimated with an extension to the Solow model.

The purpose of this article is to study the impacts of environment on the economic growth of Xi’an. Based on the relevant data from 2000 to 2007, We extended Solow model for calculating the contribution rate of capital, labor and environmental indicators to economic growth. We get the environmental indicators of Xi’an is 43.46% , so it is very important to protect environment. We suggest that emissions-trading system and the deposit repayment system are better ways for Xi’an to solve the environmental problems.

The macroeconomic growth equation based on the Solow model with translog technology is derived and compared to Wicksell–Cobb–Douglas. Both the basic model with physical capital and the augmented model with physical and human capital are presented. The purpose of the paper is to make translog a more attractive alternative for empirical research on economic growth.

We demonstrate that a key empirical finding in environmental economics - The Environmental Kuznets Curve - and the core model of modern macroeconomics - the Solow model - are intimately related. Once we amend the Solow model to incorporate technological progress in abatement, the EKC is a necessary by product of convergence to a sustainable growth path. Our amended model, which we dub the Green Solow', generates an EKC relationship between both the flow of pollution emissions and income per capita, and the stock of environmental quality and income per capita. The resulting EKC may be humped shaped or strictly declining. We explain why current methods for estimating an EKC are likely to fail whenever they fail to account for cross-country heterogeneity in either initial conditions or deep parameters. We then develop an alternative empirical method closely related to tests of income convergence employed in the macro literature. Preliminary tests of the model's predictions are investigated using data from OECD countries.

The Solow model is widely regarded as the workhorse model of the theory of economic growth. Although at one point this model was first encountered in graduate school, it has since filtered down to the intermediate and, occasionally, to the principles of macroeconomics course. Many have commented on how difficult it is to teach the Solow model to undergraduates, especially to students in the principles of macroeconomics course. The author demonstrates that under the assumption that the level of savings is autonomous, the essence of the stockflow adjustment of the Solow model becomes much easier to comprehend.

Translated to a cross-country context, the Solow model (Solow, 1956) predicts that international differences in steady state output per person are due to international differences in technology for a constant capital output ratio. However, most of the cross-country growth literature that refers to the Solow model has employed a specification where steady state differences in output per person are due to international differences in the capital output ratio for a constant level of technology. My empirical results show that the former specification can summarize the data quite well by using a measure of institutional technology and treating the capital output ratio as part of the regression constant. This reinterpretation of the cross-country Solow model provides an interesting implication for empirical studies of international trade. Harrod-neutral technology differences as presumed by the Solow model can explain why countries have different factor intensities and may end up in different cones of specialization.

The article is devoted to the construction of a dynamic model of economic growth Solow and Solow model taking into account the delay in the commissioning of assets for the Volga Federal District. We study and analyze the theoretical methods of investigation method of constructing such models and the urgency of the topic of research. To build the model were selected macroeconomic indicators such as gross regional product, the value of fixed assets, the labor force employed in the economy, the economically active population, the value of investments in fixed assets, consumption. On the basis of the constructed models were constructed projections of key macroeconomic parameters included in the model for 2013-2015. In order to assess the accuracy of the predicted values obtained by the Solow model, built four equations of various growth curves. It should be noted that these trend lines very well describe the gross regional product of the Volga Federal District. The best model is the polynomial trend line; the coefficient of determination is the maximum. Predicted values are similar between the Solow model and polynomial trend line. It is shown that elasticity of labor much more elasticity in terms of capital to the Volga Federal District, as a result, it is possible to make an unequivocal conclusion about the extensive nature of economic growth. DOI: 10.5901/mjss.2015.v6n3s7p139

Most empirical studies of long-run growth refer to one of the two seminal contributions by Robert Solow in 1956 and 1957. His work shows that in order to estimate the relative roles of factor accumulation and technology in development, an a priori identification assumption is needed about the nature of technical change. This specific assumption differs across the two Solow papers. I show that starting with the identification assumption made by Solow in 1956, one should expect to find that differences in technology rather than differences in factor accumulation explain most if not all of the observed long-run differences in output per worker. The opposite interpretation appears to prevail in parts of the recent literature on the empirics of growth.

This paper examines whether nonlinearities in the aggregate production function can explain parameter heterogeneity in the Solow growth regressions. Nonlinearities in the production technology are introduced by replacing the commonly used Cobb–Douglas (CD) aggregated production specification with the more general Constant-Elasticity-of-Substitution (CES) specification. We first justify our choice of production function by showing that cross-country regressions favour the CES over the CD technology. Then, by using an endogenous threshold methodology we show that the Solow model with CES technology is consistent with the existence of multiple regimes. Copyright © 2004 John Wiley & Sons, Ltd.

The empirical analyses reported in this paper test the argument that human capital is a complex input that consists of more than knowledge capital. The results indicate that omitting health capital from augmented Solow growth models produces misspecification biases, and that health capital has a significant impact upon economic growth rates.

The Solow model with land predicts that the effect of population growth on the growth rate of income per capita decreases with the share of agriculture. This paper shows that the empirical evidence is consistent with this theoretical prediction.

Did the European Unification Induce Economic Growth? In Search of Scale Effects and Persistent Changes. — In this paper we investigate whether the European unification has had an impact on the Union’s average labor productivity growth. Based on a time-series approach we do not find a scale effect as suggested by new growth theory. However, the data do not reject the hypothesis that the EU growth experience is well described by a textbook Solow model. Panel data estimations moreover firmly reject the idea of a growth bonus associated with EU membership.

This paper implements a panel data approach of the Solow model to study the phenomenon of growth convergence for 22 OECD countries. It shows that although the derived estimable Solow model is probably underspecified from an econometric point of view, it is still possible to conclude that there is a likely convergence to a steady state rate of about 2-4%.

This paper presents, using a new measure of human capital, robust results to show that in both the augmented and fully extended Solow model with conditional convergence, human capital plays a significant role in explaining economic growth among the OECD countries.

SUMMARY The paper considers international per capita output and its growth using a panel of data for 102 countries between 1960 and 1989. It sets out an explicitly stochastic Solow growth model and shows that this has quite diAerent properties from the standard approach where the output equation is obtained by adding an error term to the linearized solution of a deterministic Solow model. It examines the econometric properties of estimates of beta convergence as traditionally defined in the literature and shows that all these estimates are subject to substantial biases. Our empirical estimates clearly reflect the nature and the magnitude of these biases as predicted by econometric theory. Steady state growth rates diAer significantly across countries and once this heterogeneity is allowed for the estimates of beta are substantially higher than the consensus in the literature. But they are very imprecisely estimated and diAcult to interpret. The paper also discusses the economic implications of these results for sigma convergence. #1997 John Wiley & Sons, Ltd.

The research aims to study the economic growth in Jordan using the Solow model during the period 1978-2010, it was found that the rate of economic growth depends on the intensive growth which reflects on intangible aspects that does not reflect changes visible in the accumulation of factors of production rather than the expanded growth through increasing the capital and labor.

A maintained hypothesis of the present paper is that a necessary condition for model verification is the robust empirical confirmation of the model's implied restrictions. In particular, the results of a statistical test of any such restrictions should be favourable and invariant across samples. A recent influential paper presented evidence in support of the principal restriction implied by the human capital augmented Solow model of economic growth. The present paper makes use of samples different from those examined in the prior paper. The conclusion reached here, unlike that reached in the prior paper, is that the augmented Solow model is not robust.

Solow’s economic growth model, also called the neoclassical economic growth model, is the cornerstone of the Modern Growth Theory. However, except that it’s an exogenous growth modal, the aggregate production function and the social capital output per capita curve are “assumed” in it, so that it lacks of the foundation of microeconomics. The goal of this essay is to offer the strong microeconomics theory support for the aggregate production function and social capital output per capita curve which are the structural elements of Solow model.

Investigation on the effective factors that have some effects on economic growth is an important task. Although a considerable number of studies have been placed on economic growth in the world, it receives little attention in Iran. In this article, estimating growth regression, we try to investigate the supply side economic growth in Iran. The results show that there had been negative significant relationship (-0.035) between unstable policy and economic growth rate in Iran from 1959 to 2001. In this model, the effect of used expenses of the government is positive (0.01). Furthermore, the estimated results of long time relationship show that the variable coefficient of capital is about 0.319, the variable coefficient of labour power is about 0.016, the variable coefficient of exportation is about 0.001 and the variable coefficient of inflation is about -0.001. Furthermore, the forecasting model of this study expects that the average annual growth of the years had been about 7.12% from 2002 to 2006. Key words: Economic growth, forecasting growth, economic structure, supply side economics, economical factors, Solow model, human being capital.

Lifting the long run growth rate is, arguably, the pursuit of every economy. What should Kenya do to enhance its long run growth rate? This paper attempts to answer this question by examining the determinants of total factor productivity (TFP) in Kenya. We utilized the theoretical insights from the Solow (1956) growth model and its extension by Mankiw, Romer and Weil (1992) and followed Senhadji’s (2000) growth accounting procedure. We find that growth in Kenya, until the 1990s was mainly due to factor accumulation. Since then, TFP has made a small contribution to growth. Our findings imply that while variables like overseas development aid, foreign direct investment and progress of financial sector improves TFP, trade openness is the key determinant. Consequently, policy makers should focus on policies that improve trade openness if long run growth rate is to be raised.

This paper proposes an alternative approach to economic growth with money. The production side is the same as the Solow model, the Ramsey model, and the Tobin model. But we deal with behavior of consumers differently from the traditional approaches. The model is influenced by the money-in-the-utility (MIU) approach in monetary economics. It provides a mechanism of endogenous saving which the Solow model lacks and avoids the assumption of adding up utility over a period of time upon which the Ramsey approach is based.

The two-level CES aggregate production function - that nests a CES into another CES function - has recently been used extensively in theoretical and empirical applications of macroeconomics. This paper examines its theoretical properties and establishes existence and stability conditions of equilibria under the Solow and Diamond growth models. In addition, it examines the efiect of changes in substitution parameters on transitional growth and steady states. It is shown that in the Solow model, the su‐cient condition for a steady state is fulfllled for a larger range of substitution parameter values than with the basic CES function. In the Diamond model an increase in substitution parameters results in higher transitional growth under weaker conditions than with the basic CES function.

This paper proposes an economic growth model based on the Six Basic Factors of Production and Xu Growth Rate Equation for the first time, which fills-in the deficits of the New Classical Economic Growth Model based on the Solow Model. The empirical analysis indicates that over the past three decades, the consumption of six basic factors of production had complicated relations with economic growth. In some years, the consumption rate of the basic factors of production was meager, but the economy witnessed relative- ly rocketing growth rate; in some years, the factors of pro- duction consumption rate was very high, but the economy growth rate slowed down. In general, economy grows at the expenses of huge consumption of four factors. There is an obvious characteristic of huge input and low efficiency. The average contribution rate of technological advance peaks in the middle, while it drops down at two ends. Noticeably, since 2004, the technology contribution rate generally shows a downward trend, reasons of which should be explored sys- tematically in aspects like economic policy and industry structure with a view to boost further transformation of the macro-economy scientific growth model. profound researches, by now, there is no single theory of- fering an effective enough prescription to the economy of countries. Currently, some countries possess great wealth, but some countries are still stuck in poverty. This is an obje- ctive portrait of the dilemma of theory. Therefore, economic growth is still a difficult economic problem to be settled. Ev - ery year, a large number of research papers emerge about it. Just like a master once put it:as long as people begin to think about this problem,it's hard for them to think about other is- sues (Robert, 1988). However, we must keep the warning of Solow in mind:If there are not new ideas proposed,we will have no reason to return to this old problem (Robert, 1991). This article will propose a new economic growth model— economic growth model based on Six Basic Factors of Pro- duction,and build a corresponding growth rate equation ① . This new attempt might uncover a thread and observation. 2 The evolution of the economic growth the- ory

The Solow model concludes that long-run growth depends on technological progress, which is taken by neoclassical economists as suggesting there are no limits to growth because humanity’s capacity to think and expand knowledge is unlimited. This paper develops a two-sector Solow model consisting of natural and economic sectors, and it demonstrates that continued rapid growth is not inevitable and an economic collapse is possible. The logical application of the Solow model thus does not provide a justification for continuing the energy-based technological change and economic growth we have experienced over the past two centuries.

Growth economists still face major challenges and limitations to incorporate institutions into the standard growth framework. This article develops a simple institutions-augmented Solow growth model --that can be used in the classroom and for policy discussions --that accounts for the interactions between institutions and factor-productivity and examine the impacts of the quality of institutions on levels and growth rates of output. The institutions-augmented growth model shows that differences in the quality of institutions preclude income convergence and determine both the level and the growth rate of output per worker. The model also shows that poor institutions induce poverty traps. Furthermore, the income gap between rich and poor countries will not disappear if poor countries’ institutions do not improve relative to their rich counterpart.

In this paper, the author uses dynamic general equilibrium methods to examine the interrelationship between sectoral composition and growth. She shows that growth is affected by sectoral composition and vice versa. The model is basically a Solow model of sustained growth with multiple consumption goods and nonhomothetic preferences. Each consumption good is produced using different factor intensities. The rate of exogenous technological change is different in each sector. Nonhomotheticity of preferences drives the result that sectoral composition affects growth rates. Copyright 1997 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

This paper considers the historical record and time series properties of United States' industrial production for the period 1860 to 1991, utilizing unit root tests and measures of persistence. The results identify a segmented trend model which is used to assess the time-series simulation performance of four well-known models of economic growth: Solow (1957); Mankiw, Romer and Weil (MRW, 1992); Barro and Sala i Martin (BSM, 1992); and Rebelo (1991). Both the MRW and BSM models dominate the Solow model in accounting for twentieth century industrial growth, highlighting the importance of human capital, and the paper suggests a new measure related to higher education. However, the Rebelo model explains the post-1973 slowdown more successfully than either of the ‘augmented-Solow’ approaches. The paper concludes with a discussion of the impact of shocks on US industrial growth.