How Successful Is the Solow Neoclassical Model in Explaining Growth?
Introduction The model developed by Robert Solow1 (1956) aimed to estimate economic growth in terms of cross-country perspective. However, the paper by Solow written in 1956 does not discuss the pattern of growth across countries using the neoclassical growth model. Kieran McQuinn and Karl Whelan2 indicate that the Solow model...