Testing Solow’s Implications on the Effective Development Policy
The core of the neoclassical growth theory is the capital investment. Solow proposed that the diminishing return is key to such growth process in establishing the stability of the equilibrium growth path. This key postulation has critical implications on the sustainable and effective development pol...
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| Format: | Article |
| Language: | English |
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Korea Development Institute
2014-03-01
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| Series: | KDI Journal of Economic Policy |
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| Online Access: | https://doi.org/10.23895/kdijep.2014.36.1.107 |