Simulation-dynamic model of long-term economic growth using Solow model

Abstract

This article presents a simulation-dynamic model for calculating long-term economic growth based on the neoclassical model of R. Solow. The model is developed on the basis of the system dynamics method, AnyLogic tools. In the constructed model, the calculations were carried out for two variants of the long-term Russian economy development, with and without taking into account scientific and technical progress. The model was used as a tool for researching which of the development options is more profitable. As a result of experiments with options, it was found that a variant that takes into account technical progress is preferred. The conducted study allows concluding that the developed simulation-dynamic model is universal and on its basis, it is possible to conduct various researches on various aspects of the long-term development of different levels economic systems.