arXiv Open Access 2025

A Solow-Swan framework for economic growth with memory effect

M. O. Aibinu K. J. Duffy S. Moyo

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Abstrak

The Solow-Swan equation is a cornerstone in the development of modern economic growth theory and continues to attract significant scholarly attention. This study incorporates memory effects into the classical Solow-Swan model by introducing a formulation based on the Caputo fractional derivative. A comparative analysis is conducted between the integer-order and fractional-order versions of the model to examine the influence of fractional dynamics on capital accumulation. The findings reveal that the inclusion of a fractional-order derivative significantly affects the trajectory and long-term stability of capital, offering a more flexible and comprehensive framework for modeling economic growth processes.

Topik & Kata Kunci

q-fin.GN

Penulis (3)

M. O. Aibinu

K. J. Duffy

S. Moyo

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APA MLA BibTeX

Aibinu, M.O., Duffy, K.J., Moyo, S. (2025). A Solow-Swan framework for economic growth with memory effect. https://arxiv.org/abs/2508.20100

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Informasi Jurnal

Tahun Terbit: 2025
Bahasa: en
Sumber Database: arXiv
Akses: Open Access ✓