Wpływ technologii zależnej od kapitału na pracującego na równowagę uogólnionego modelu Solowa
The influence of technology dependent on capital-labour ratio on the equilibrium of the generalised Solow model

Summary/Abstract: The aim of this article is to generalise the Solow growth model and to show that, in such a generalised model, there can be more than one non-trivial stationary point. In the neoclassical theory of economic growth, based on the Solow-Swan model, technology is exogenous. Growth models are characterised by a different approach, in which technology (or knowledge) is developed endogenously. Exogenous technology is introduced to the economy ‘from the outside’, while endogenous technology applies when its level depends on another macroeconomic variable in the model. This paper proposes an alternative generalisation of the Solow model with endogenous technology, which is related to the capital-labour ratio in such a way that the level of technology increases as the value of this variable grows. We also analysed the dynamics of the model, determined the stationary points and analysed their stability. Furthermore, we demonstrated the conditions allowing the existence of a stable stationary state. Numerical simulations were carried out to determine the trajectories of the macroeconomic variables examined in the study. We showed that there are two non-trivial stationary points above the savings rate threshold value. The unstable stationary point defines the poverty limit. If the initial level of capital per worker in an economy is below the value of this point, the macroeconomic variables converge to 0 in the long run. If the initial level of capital per worker is greater than this value, the macroeconomic variables converge to a stable stationary point. Moreover, since in general, the value of the capital-labour ratio determines both the level of technology and labour productivity, these variables behave in the same way as the former.

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