A Solow-Swan framework for economic growth with memory effect

M. O. Aibinu, K. J. Duffy and 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.

Date: 2025-08
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Published in Afrika Matematika 2025, 36:143

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