Chinese Quarterly Journal of Mathematics ›› 1998, Vol. 13 ›› Issue (2): 72-78.

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An Improved Solow-Swan Model

  

  1. Wuhan University,Wuhan,430072
  • Received:1997-03-31 Online:1998-06-30 Published:2024-11-01

Abstract: In this paper,under the assumption that the labor force function increases strictly and is bounded and the labor force growth rate function decreases monotonically from a positive value to zero,we obtain an improved Solow Swan model. We prove that the per capita capital trends stabilitily to the steady state of the classical Solow Swan model with zero the labor force growth rate. Two comparison theorems,a limited theorem and a stability theorem are given. At the end of this paper,we give an example and discuss the economic meaning of this model and the theorems.  

Key words: labor force growth rate, economic growth, improved Solow-Swan model

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