. While the Solow-Swan neo-classical model dominated research on growth in the 1960s and 1970s, the 1980s saw the emergence of … growth theories that disputed, largely on theoretical grounds, the Solow-Swan assumptions and conclusions. In this paper, we … that the data analysis we present suggests that the neoclassical model does not accord very well with the growth experience …

and tax-permitted depreciation, is considered. Both convex and concave survival functions can be accommodated. Three …-relevant accounting capital and true depreciation, (ii) mis-indexation of depreciation allowances, (iii) incomplete deductibility of …-exponential depreciation schedules are forced, by 'approximation devices', to fit into the exponential decay schedule. …