EMPIRICAL ANALYSIS OF ECONOMIC GROWTH THROUGH SOLOW- SWAN GROWTH MODEL

Abstract

Economic growth is considered to be one of the most important topic in the field
of economics, since it has been facilitating many discrepancies among economist and
researchers. Consequently, this divergence of ideas initiated the emergence of new
branch in macroeconomics denoted as economic growth theory. Therefore, the main
purpose of this assignment is to analyze economic data and investigate the relationships
of empirical analysis describing Solow-Swan growth model. Regarding the structure
of the report, we will initially present the empirical literature review of academic
papers, moving to the second part, data description and its collection methodology,
analysis of priori and OLS estimates will be provided by supporting with the outcomes
of statistic software. Following this, interpretation of empirical results and explanation
of OLS assumptions will be given. Then we will summarize all the points in conclusion
part.