A Generalized Solow-Swan Model. (2nd April 2014)

• Record Type: Journal Article
• Authors: Cai, Donghan; Ye, Hui; Gu, Longfei
• Other Names: Diblík Josef Academic Editor.
• Is Part Of: Abstract and applied analysis. Volume 2014(2014)
• Publication Date: 2014-04-02
• Subjects: Mathematical analysis -- Periodicals; Mathematical analysis; Applied Mathematics; Mathematical Analysis; Periodicals; 515.05
• DOI: 10.1155/2014/395089
• Languages: English
• ISSNs: 1085-3375

Abstract

Abstract : We set up a generalized Solow-Swan model to study the exogenous impact of population, saving rate, technological change, and labor participation rate on economic growth. By introducing generalized exogenous variables into the classical Solow-Swan model, we obtain a nonautomatic differential equation. It is proved that the solution of the differential equation is asymptotically stable if the generalized exogenous variables converge and does not converge when one of the generalized exogenous variables persistently oscillates.