The paper analyzes the dynamic of the Solow–Swan growth model when the labor growth rate is nonconstant
but variable and bounded over time. Per capita capital is seen to stabilize to the non-trivial steady
state of the Solow–Swan model with a particular constant labor growth rate. The solution of the model is
proved to be asymptotically stable. In case of a Cobb-Douglas production function and a generalized logistic
population growth law, the solution is shown to have a closed-form expression via Hypergeometric functions.
© 2005 Elsevier B.V. All rights reserved.