The Solow model and the empirics of economic growth

The aim of this work is to accomplish an analysis of an economic growth of selected countries by using the Solow model. The main goal is to determine whether the current economic growth proceeds according to the Solow model and whether this model is a proper tool to analyze an economic growth. At first, theoretical assumptions and individual components of the model are described. The analysis itself is then achieved by sequential application of macroeconomics indicators of selected countries, which are divided into three groups according to its distinctive economical features, to three types of the Solow model (the basic Solow model, the human capital augmented Solow model, the human capital and technological know-how augmented Solow model). The application is implemented by the statistical-empirical software Gretl. At the end of the work, regarding mainly to results of the empirical testing, the augmented Solow model including the human capital and the technological know-how is established to be a proper tool to analyze an economics growth