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Title: How Effective Would the Solow Macroeconomic Growth Model be in Helping Developing Economies Like India to Achieve A Developed Status: An in Depth Critical Analysis
Authors: Sumeir Singh Bhatia
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Sumeir Singh Bhatia The Doon School Dehradun
MLA 8 Bhatia, Sumeir Singh. "How Effective Would the Solow Macroeconomic Growth Model be in Helping Developing Economies Like India to Achieve A Developed Status: An inDepth Critical Analysis." Int. j. of Social Science and Economic Research, vol. 10, no. 1, Jan. 2025, pp. 197-211, doi.org/10.46609/IJSSER.2025.v10i01.010. Accessed Jan. 2025. APA 6 Bhatia, S. (2025, January). How Effective Would the Solow Macroeconomic Growth Model be in Helping Developing Economies Like India to Achieve A Developed Status: An inDepth Critical Analysis. Int. j. of Social Science and Economic Research, 10(1), 197-211. Retrieved from https://doi.org/10.46609/IJSSER.2025.v10i01.010 Chicago Bhatia, Sumeir Singh. "How Effective Would the Solow Macroeconomic Growth Model be in Helping Developing Economies Like India to Achieve A Developed Status: An inDepth Critical Analysis." Int. j. of Social Science and Economic Research 10, no. 1 (January 2025), 197-211. Accessed January, 2025. https://doi.org/10.46609/IJSSER.2025.v10i01.010.
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ABSTRACT: The Solow model adequately explained through empirical evidence, the industrialization of countries till the first half of the 20th century. The question is how to adapt this model to the current scenario of developing nations. There has been the Augmented Solow model which does to some extent, correct the basic assumptions and issues with respect to the ‘Convergence Theory’. But there are still issues with respect to technology and Research and development transfers. These need to be addressed through various trade agreements , both bilateral and multilateral.

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