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The B.E. Journal of Macroeconomics

Editor-in-Chief: Cavalcanti, Tiago / Kambourov, Gueorgui

Ed. by Abraham, Arpad / Carceles-Poveda , Eva / Debortoli, Davide / Lambertini, Luisa / Nimark, Kristoffer / Wang, Pengfei

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1935-1690
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Human-capital spillover, population and R&D-based growth

Bharat Diwakar / Gilad Sorek
Published Online: 2016-10-12 | DOI: https://doi.org/10.1515/bejm-2016-0029

Abstract

We study two-sector R&D model with endogenous human capital accumulation. Allowing for fractional human capital spillover from parents to their offspring, which are subject to congestion in fertility rate, we establish non-monotonic relations between population growth and economic growth. These non-monotonic relations, which are polynomial in general, are determined by the base level of human capital spillover and the magnitude of the congestion effect: a U shape relation can arise under low congestion factor, whereas a hump shape may present for high congestion factor. Hence this work contributes to the recent line of modified R&D-based growth models, aimed to align theory with the mixed empirical data on the relation between population growth and economic prosperity.

Keywords: human-capital spillover; innovation-based growth; population growth

JEL Classification: O-31; O-40

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About the article

Published Online: 2016-10-12


Citation Information: The B.E. Journal of Macroeconomics, ISSN (Online) 1935-1690, ISSN (Print) 2194-6116, DOI: https://doi.org/10.1515/bejm-2016-0029.

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