Abstract
We use the mosaic package to visualize the Solow model and also to compute and plot the values of capital stock over time. We will explore a dataset on long term economic growth, available online at the Maddison Project website. We see time series data of per capita GDP for several leading economies, going back to 1900! We then see how the distribution of income among countries of the world has changed in more recent decades.
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References
Jones CI (2013) Introduction to economic growth, Indian edn. Viva, New Delhi in arrangement with Norton
Maddison Project (2015). http://www.ggdc.net/maddison/maddison-project/home.htm. Accessed 2 Mar 2015
Weil DN (2012) Economic growth, 3rd edn. Prentice Hall
World Bank (2014) World development indicators http://databank.worldbank.org/data/home.aspx. Accessed 7 Jan 2014
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Dayal, V. (2015). The Solow Growth Model. In: An Introduction to R for Quantitative Economics. SpringerBriefs in Economics. Springer, New Delhi. https://doi.org/10.1007/978-81-322-2340-5_12
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DOI: https://doi.org/10.1007/978-81-322-2340-5_12
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