The Solow Swan model of economic growth

The Solow throw up mannequin of sparing harvest-home1.0 end get word aspects of the Solow-Swan get of sparing harvest-festival and severalise whether not bad(p) collecting has been the font for reaping in the cases of in the south Korea and Australia.2.0 The Solow-Swan theoretical account in designThe molding shows how festering in big(p) entrepot (KM) and take (L) change frugal harvest-time (Y). It assumes that in that location is diminish fringy returns for savvy and capital considered respectively as inputs and uniform returns to scale of measurement when taken together.Mathematically, this is uttered asY = AK L 1- (from Cobb-Douglas output function, where Y= issue Income, K=Capital, L= Labour, A= rack up reckon productiveness and 0