Cliometrics of the Abiding Nexus Between Demographic Components and Economic Development
AbstractThis 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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Bibliographic InfoPaper provided by Association Française de Cliométrie (AFC) in its series Working Papers with number 06-06.
Length: 30 pages
Date of creation: 2006
Date of revision:
Demographic component; cliometrics; economic growth; stochastic demography; long-memory;
Find related papers by JEL classification:
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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