The Solow-Swan growth model predicts that growth should be uncorrelated with the ratio of national investment to GDP. If capital markets are open, the model predicts instantaneous convergence of GDP per capita across countries. Convergence is achieved by capital flows from rich to poor countries and a consequence of these flows is that the ratio of national savings to GDP in each country should...

Robert Solow received the 1987 Nobel Prize in economics for developing the leading model of economic growth. The model is based on the premise that cross-country differences in income per person are the result (primarily) of differences in national savings rates (savings finances increases in the capital stock). We illustrate its properties and show how it can be used as a tool for exploring th...

In his work on the Solow-Swan model with power law logistic technology, Zhou [15] shows the dynamics of the model to be asymptotically stable. In this paper, we provide a different proof of this result. Mathematics Subject Classification: 91B62

This paper proposes an alternative approach to economic growth with endogenous labor supply. The production side is the same as the Solow model, the Ramsey model, and the Diamond model. But we deal with the behavior of consumers differently from the traditional approaches by proposing a concept of disposable income (which is the sum of the wealth available for use, the current income from inter...

Middle East is a strategic region because of its abundant oil reserves, hostile struggles among the countries, and threat of the radical groups. The countries of this region spend a large amount of their annual budgets on buying weapons and war armaments. The purpose of this paper is to study the impact of military expenditures on economic growth of oil and non-oil Middle East countries by a dy...

Capital accumulation and technological innovation had been the two channels through which financial sector plays a vital role in growth of economy. However, there are some different results between banking stock market. The research tested Solow-Swan model augmented with markets to show that domestic credit equity from long run determinants Gross Domestic Products (GDP) per capita five ASEAN co...