Economic growth is driven by the process of accumulation of the dominant resource expressed by an ordinary differential equation. This equation is studied in the models of Harrod (1939), Solow (1956), Lucas (1988), Romer (1990), and Grossman and Helpman (1991). The equations of the first three...

It is universally recognized that income growth of a country is closely related to its rate of capital formation and foreign loans and assistance. This note attempts an empirical verification of this accepted fact based on a simple econometric study of the relationship between the rate of growth...