Demograficzne czynniki wzrostu produktu w wybranych krajach Europy środkowo-wschodniej
Demographic determinants of the economic growth in chosen central European countries

Summary/Abstract: The aim of the paper was the development of the neoclassical Solow economic growth model. Thanks to the exclusion of assumption of the fixed growth rate of the labor force, the authors conducted simulations for the Czech, Polish, Hungarian and Slovak economies. The authors assumed that the growth path of the labor force equals the population multiplied by the labor activity index (defined as the number of employees divided by the population). Additionally, the growth rate of the labor force has an asymptotic shape towards the fixed value, which is contrary to the pure Solow model, where this rate increases to infinity. In the empirical part the calibration of model parameters and numeric simulation was conducted. This simulation was done in the period 2000–2050. The data were taken from EUROSTAT data base. The numeric simulation allowed to create economic growth path with respect to the different investment rates.

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