A Solow-Swan framework for economic growth with memory effect
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arXiv
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| Main Authors: | , , |
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| Format: | Preprint |
| Published: |
2025
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| _version_ | 1866911129275465728 |
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| author | Aibinu, M. O. Duffy, K. J. Moyo, S. |
| author_facet | Aibinu, M. O. Duffy, K. J. Moyo, S. |
| contents | The Solow-Swan equation is a cornerstone in the development of modern economic growth theory and continues to attract significant scholarly attention. This study incorporates memory effects into the classical Solow-Swan model by introducing a formulation based on the Caputo fractional derivative. A comparative analysis is conducted between the integer-order and fractional-order versions of the model to examine the influence of fractional dynamics on capital accumulation. The findings reveal that the inclusion of a fractional-order derivative significantly affects the trajectory and long-term stability of capital, offering a more flexible and comprehensive framework for modeling economic growth processes. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2508_20100 |
| institution | arXiv |
| publishDate | 2025 |
| record_format | arxiv |
| spellingShingle | A Solow-Swan framework for economic growth with memory effect Aibinu, M. O. Duffy, K. J. Moyo, S. General Finance The Solow-Swan equation is a cornerstone in the development of modern economic growth theory and continues to attract significant scholarly attention. This study incorporates memory effects into the classical Solow-Swan model by introducing a formulation based on the Caputo fractional derivative. A comparative analysis is conducted between the integer-order and fractional-order versions of the model to examine the influence of fractional dynamics on capital accumulation. The findings reveal that the inclusion of a fractional-order derivative significantly affects the trajectory and long-term stability of capital, offering a more flexible and comprehensive framework for modeling economic growth processes. |
| title | A Solow-Swan framework for economic growth with memory effect |
| topic | General Finance |
| url | https://arxiv.org/abs/2508.20100 |