The Solow Growth Model establishes that an economy's accumulation of physical capital is governed by the mechanical interaction between investment and depreciation, leading to a long-run steady state where net growth ceases due to diminishing marginal returns on capital. In this theoretical framework, convergence occurs whenever investment exceeds or falls below the level required for replacement, causing deviations from equilibrium to self-correct toward zero economic growth unless exogenous parameters such as the savings rate change. This concept defines physical capital accumulation theory within neoclassical economics, demonstrating that while higher储蓄 rates elevate the steady-state output level, they cannot sustainably generate perpetual per capita income growth once the system reaches its new equilibrium.
The Solow Growth Model establishes that an economy's accumulation of physical capital is governed by the mechanical interaction between investment and depreciation, leading to a long-run steady state…