Population and Economic Growth Under Different Growth Engines

Using a growth model with physical capital accumulation, human capital investment and horizontal R&D activity, this paper proposes an alternative channel through which an increase in the population growth rate may yield a non-uniform (i.e., a positive, negative, or neutral) impact on the long-ru...

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Bibliographic Details
Published in:German economic review (Oxford) 2017-05, Vol.18 (2), p.182-211
Main Authors: Bucci, Alberto, Raurich, Xavier
Format: Article
Language:English
Subjects:
Capital
Creixement econòmic
Economic growth
Economic impact
Economic models
Economic theory
endogenous and semi-endogenous economic growth
GDP
Gross Domestic Product
Growth models
horizontal differentiation
Human capital
human capital investment
International
Població
Population
Population growth
R&D
Recursos humans
Research & development
Studies
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Summary:Using a growth model with physical capital accumulation, human capital investment and horizontal R&D activity, this paper proposes an alternative channel through which an increase in the population growth rate may yield a non-uniform (i.e., a positive, negative, or neutral) impact on the long-run growth rate of per-capita GDP, as available empirical evidence seems mostly to suggest. The proposed mechanism relies on the nature of the process of economic growth (whether it is fully or semi-endogenous), and the peculiar engine(s) driving economic growth (human capital investment, R&D activity, or both). The model also explains why in the long term the association between population growth and productivity growth may ultimately be negative when R&D is an engine of economic growth.
ISSN:1465-6485
1468-0475
DOI:10.1111/geer.12092