A Short Note on the Fallacy of Identification of Technological Progress in Models of Economic Growth

SAGE Open, Vol. 5(2), pp. 1-5, April 2015

Posted: 13 Jun 2016

See all articles by Senay Acikgoz

Senay Acikgoz

Gazi University

Merter Mert

Department of Economics, AHBV University

Abstract

This study emphasizes the necessity of the Harrod-neutral identification of technological progress for the models of economic growth, which use Cobb–Douglas production function and which are based on stability. Some of the important studies, which reviewed a balanced growth path or a steady state of the Solow model, assumed the nature of technological progress as Hicks-neutral rather than Harrod-neutral. In this work, we have reminded that Harrod-neutral is a better assumption for the nature of technological progress in such studies.

Keywords: Hicks-Neutral, Harrod-Neutral, Technological Progress, Growth, Stability

Suggested Citation

Acikgoz, Senay and Mert, Merter, A Short Note on the Fallacy of Identification of Technological Progress in Models of Economic Growth. SAGE Open, Vol. 5(2), pp. 1-5, April 2015 , Available at SSRN: https://ssrn.com/abstract=2794339

Senay Acikgoz (Contact Author)

Gazi University ( email )

Teknikokullar Ankara, 06500
Turkey

Merter Mert

Department of Economics, AHBV University ( email )

Ankara, 06500
Turkey

HOME PAGE: http://www.mertermert.org

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