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Licensed Unlicensed Requires Authentication Published by De Gruyter November 30, 2019

Population and Economic Growth Under Different Growth Engines

Alberto Bucci and Xavier Raurich
From the journal German Economic Review

Abstract

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.

Published Online: 2019-11-30
Published in Print: 2017-05-01

© 2019 by Walter de Gruyter Berlin/Boston