Modeling Economic Growth Using the Solow Model

Abstract

This article is dedicated to modeling economic growth using the Solow model. The paper examines the main principles and mechanisms of the Solow model, which allow for the analysis of long-term economic growth. The authors explore the impact of various factors such as technological progress, capital accumulation, and population growth on economic development. The presented models and examples demonstrate how the Solow model can be applied for forecasting economic trends and developing growth strategies. The research findings can be useful for economists, analysts, and policymakers involved in issues of economic growth and development.