Población y crecimiento económico. Una versión mejorada del modelo de Solow

Abstract

One of the usual hypothesis in standard economic growth theory is that labor force follows exponential growth. This is an unrealistic assumption because growing exponentially population can be arbitrarily large. In this paper we reformulate the neoclassical Solow model of economic growth by assuming that the law describing population growth verifies two stylized facts: i) population is strictly increasing and bounded and ii) the rate of growth of population is strictly decreasing to zero. The main result of the paper is the proof of the convergence of capital per worker to a constant value independently of the initial condition.