New economic model predicts growth in developing economies with technology changes.
The article explains how economic growth in developing countries is influenced by factors like labor, resources, and technology. It presents a model that shows how production is linked to capital and labor, with two versions: one with external technological changes and one with internal ones. The model uses a production function that can be applied to both developed and developing economies. The research validates the models based on economic theories and analyzes variables like savings, investment, income, and consumption in each model.