Abstract

PLATA PEREZ, Leobardo; GONZALEZ RAMIREZ, Pedro I.  and  CALDERON SANCHEZ, Eduardo. La función de crecimiento de Richard y los modelos de crecimiento neoclásicos. EconoQuantum [online]. 2017, vol.14, n.1, pp.99-118. ISSN 2007-9869.

We investigate the consequences of introducing Richard’s Growth function as a production function in Solow-Swan and Ramsey models. We found that both models, with neoclassical production function, are special cases of the same model if we use Richards production function. In the Solow model, poverty traps occur in a natural way. This work is an expanded and revised version of Plata L. and Calderón E. (2009) published in this journal.

Keywords : Richard’s growth function; neoclassical growth models; poverty traps; economic growth.

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