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EnglishThis paper answers the following two questions: 1) In the data, do we find a dilution effect of population growth also on per-capita human capital investment? If yes, 2) How can we use this observation to explain theoretically the existence of a differential impact of population change on economic growth across countries? In the first part of the article we document empirically considerable cross-country heterogeneity of a dilution effect of population growth with regards to the process of per-capita human capital formation. And we observe that, depending on the dilution effect observed in a given country, population growth may be relevant — either positively or negatively — for economic growth. In the second part of the paper we use these results to build a multi-sector growth model which, by allowing for a country specific dilution effect of population growth on per-capita human capital formation, is capable of accounting for the non-monotonous correlation between demographic and economic growth rates in the long-run.
Dilution Effects, Population Growth and Economic Growth under Human Capital Accumulation and Endogenous Technological Change / A. Bucci, L. Eraydin, M. Müller. - In: JOURNAL OF MACROECONOMICS. - ISSN 0164-0704. - 62(2019 Dec). [Epub ahead of print]
| Titolo: | Dilution Effects, Population Growth and Economic Growth under Human Capital Accumulation and Endogenous Technological Change |
| Autori: | |
| Parole Chiave: | Human Capital; Economic Growth; Population Growth; Dilution Effects; Research & Development |
| Settore Scientifico Disciplinare: | Settore SECS-P/01 - Economia Politica |
| Data di pubblicazione: | dic-2019 |
| Rivista: | |
| Tipologia: | Article (author) |
| Digital Object Identifier (DOI): | http://dx.doi.org/10.1016/j.jmacro.2018.08.003 |
| Appare nelle tipologie: | 01 - Articolo su periodico |
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http://hdl.handle.net/2434/597944
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