Spatial Persistence of Demographic Shocks and Economic Growth
AbstractThis paper studies how the spatial effects of demographic system affects economic growth of different countries. Population growth shocks (whether in aggregate or in disaggregate form) in general have spatial movement that is deemed to contribute to economic growth fluctuations depending upon their convergence properties to the long-run level. By constructing a ‘demographic distance’ function based on both average age-shares and their stochastic time series characteristics, we show that persistence of spatial demographic system has had discernible effects on economic growth of Asia, Europe, Africa, and Latin America and Offshore countries in the last four decades. While the temporal study of demographic system on economic growth fluctuations is getting popularity, this paper goes a step further to explain persistence properties of economic growth by embedding temporal features by studying a spatial VAR model of demography and economic growth.
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Bibliographic InfoPaper provided by Association Française de Cliométrie (AFC) in its series Working Papers with number 07-04.
Length: 31 pages
Date of creation: 2007
Date of revision:
Spatial Persistence; Long memory; Demographic dynamics; Economic growth;
Other versions of this item:
- Azomahou, Théophile & Diebolt, Claude & Mishra, Tapas, 2009. "Spatial persistence of demographic shocks and economic growth," Journal of Macroeconomics, Elsevier, vol. 31(1), pages 98-127, March.
- C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
- E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
- 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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