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arXiv · 2508.20100

A Solow-Swan framework for economic growth with memory effect

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

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.

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M. O. Aibinu, K. J. Duffy, S. Moyo. 2025-08-11. A Solow-Swan framework for economic growth with memory effect. https://doi.org/10.1007/s13370-025-01365-y

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