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Cliometrics of the Abiding Nexus Between Demographic Components and Economic Development

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Author Info

  • Claude Diebolt

    ()
    (Bureau d’Economie Théorique et Appliquée (BETA), Université Louis Pasteur, Strasbourg.)

  • Tapas K. Mishra

    ()
    (IRES, Department of Economics, Catholic University of Louvain Belgium.)

Abstract

This article assesses the nexus between (components of) population and economic development from cliometric perspective. Based on stationary assumption, Kelley and Schmidt (hereafter KS, 1995) while showed that only demographic variables render robust explanation of economic growth, KS(2001) find significance of other non-demographic factors under extended data. Questions may arise therefore on the uniqueness of the model and consistency of the results under extended data and/or addition of regressors. Retaining the same framework and variables as KS, we observe significant anomalies in the results under further extension of the data. We argue that inclusion of additional regressors might improve the explanatory power of the model; however, unless one accounts for stochastic shocks in the demographic variables accumulated over time, the interplay between economic growth and demography cannot be clearly understood.

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File URL: http://www.cliometrie.org/images/wp/AFC_WP_06-2006.pdf
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Bibliographic Info

Paper provided by Association Française de Cliométrie (AFC) in its series Working Papers with number 06-06.

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Length: 30 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:afc:wpaper:06-06

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Web page: http://www.cliometrie.org
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Related research

Keywords: Demographic component; cliometrics; economic growth; stochastic demography; long-memory;

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