A Contribution to the Theory of Economic Growth.

Solow, R. M. (1956). A Contribution to the Theory of Economic Growth. Quarterly Journal of Economics, 70(1), 65-94.

Type

Journal article

Intellectual base

Primary research

Year

1956

Volume

70

Issue

1

Pages

65-94

DOI

10.2307/1884513

DOI registrant

Oxford University Press

Link

https://doi.org/10.2307/1884513

Cited from

economics_finance, synthesized

Cited by

3 citations across 3 artifacts.

Each citation links to the sentence it supports in the citing article.

Primes

• Diminishing Incremental Gains
  • … resources between incremental improvement (moving rightward) and curve-shifting innovation (jumping to a higher curve)—the very split Solow (1956) introduced when he showed that long-run growth must come from technical progress shifting the production function, not capital deepening along a fixed concave curve.
• Diminishing Returns (Law of)
  • Solow's (1956)

Domain-specific

• Economic Growth Model
  • Solow–Swan makes technological progress exogenous and uses diminishing returns to stabilize capital per effective worker

    This sourceSolow's founding paper, which makes technical progress an exogenous scale factor on the production function and shows that variable proportions drive the capital–labour ratio to a stable equilibrium — stated per worker, the per-effective-worker form being the later labour-augmenting restatement. Solow 1956 states this split directly: a higher saving ratio raises the equilibrium capital–labour ratio but leaves the long-run rate unchanged, while growth beyond labour-force growth can come only from the exogenous technology factor A(t).

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