Abstract:
The Solow Model, also known as the Solow-Swan Growth Model, is a foundational concept in economics that explains long-term economic growth by looking at capital accumulation, labour or population growth, and technological progress. This paper examines the theoretical shift from the Harrod-Domar to the Solow growth model through the lens of inference to the best explanation, while also highlighting the relevance of Solow’s steady-state capital-labour ratio within an instrumentalist framework. Furthermore, it explores how the model’s structure provided the basis for predicting income convergence in developing countries, as interpreted through Hempel’s covering-law model. CZU: 330.44:330.35; JEL: B22, O47
Description:
CASIAN, Cătălin. The Solow Model of Economic Growth for Developing Countries = Modelul Solow de creștere economică pentru țările în curs de dezvoltare. Online. Coord. șt.: Elena VACULOVSCHI. In: Simpozionul Ştiinţific cu participare internaţională al Tinerilor Cercetători. Ediţia a 23-a. Lucrări ştiinţifice, 11-12 aprilie 2025. Chişinău: SEP ASEM, 2025, vol. 2, pp. 61-63. ISBN 978-9975-168-37-3 (PDF). Disponibil: https://doi.org/10.53486/sstc2025.v2.13
