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Endogenous Growth: A Knife-Edge or the Razor's Edge?

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  • Carl-Johan Dalgaard
  • Claus Thustrup Kreiner

Abstract

According to much of the recent growth literature the dramatic worldwide fertility decline currently taking place should ultimately lead to global economic stagnation. This pessimistic prediction is not shared by the original innovation-based growth literature. However, this strand of literature has in recent year been criticized for resting on implausible knife-edge assumptions and for being inconsistent with available evidence. In this paper, we argue that this conclusion is unwarranted.

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  • Carl-Johan Dalgaard & Claus Thustrup Kreiner, "undated". "Endogenous Growth: A Knife-Edge or the Razor's Edge?," EPRU Working Paper Series 02-02, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics, revised Feb 2002.
    • Handle: RePEc:kud:epruwp:02-02
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    Cited by:

    1. Prettner, Klaus & Bloom, David E. & Strulik, Holger, 2013. "Declining fertility and economic well-being: Do education and health ride to the rescue?," Labour Economics, Elsevier, vol. 22(C), pages 70-79.
    2. Fernando Sánchez‐Losada, 2019. "How Important Are Scale Effects for Growth When Knowledge Is a Public Good?," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(2), pages 763-782, April.
    3. Joharji Ghazi A. & Starr Martha A, 2011. "Fiscal Policy and Growth in Saudi Arabia," Review of Middle East Economics and Finance, De Gruyter, vol. 6(3), pages 24-45, February.
    4. Norman Gemmell & Richard Kneller & Ismael Sanz, 2016. "Does the Composition of Government Expenditure Matter for Long-Run GDP Levels?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(4), pages 522-547, August.
    5. Peretto, Pietro F., 2018. "Robust endogenous growth," European Economic Review, Elsevier, vol. 108(C), pages 49-77.
    6. Sanz Labrador, Ismael & Sanz-Sanz, José Félix, 2013. "Política fiscal y crecimiento económico: consideraciones microeconómicas y relaciones macroeconómicas," Macroeconomía del Desarrollo 5367, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    7. Sequeira, Tiago Neves & Gil, Pedro Mazeda & Afonso, Oscar, 2018. "Endogenous growth and entropy," Journal of Economic Behavior & Organization, Elsevier, vol. 154(C), pages 100-120.
    8. Tony Addison & Ville Pikkarainen & Risto Rönkkö & Finn Tarp, 2017. "Development and poverty in sub-Saharan Africa," WIDER Working Paper Series 169, World Institute for Development Economic Research (UNU-WIDER).
    9. Steven Bond‐Smith, 2019. "The Decades‐Long Dispute Over Scale Effects In The Theory Of Economic Growth," Journal of Economic Surveys, Wiley Blackwell, vol. 33(5), pages 1359-1388, December.
    10. Martin Aarøe Christensen, 2015. "A CGE model with ICT and R&D-driven endogenous growth: A detailed model description," JRC Research Reports JRC97908, Joint Research Centre.
    11. Norman Gemmell & Richard Kneller & Ismael Sanz, 2011. "The Timing and Persistence of Fiscal Policy Impacts on Growth: Evidence from OECD Countries," Economic Journal, Royal Economic Society, vol. 121(550), pages 33-58, February.
    12. Tony Addison & Ville Pikkarainen & Risto Rönkkö & Finn Tarp, 2017. "Development and poverty in sub-Saharan Africa," WIDER Working Paper Series wp-2017-169, World Institute for Development Economic Research (UNU-WIDER).
    13. Creina Day, 2006. "Population and Endogenous Growth," ANU Working Papers in Economics and Econometrics 2006-475, Australian National University, College of Business and Economics, School of Economics.
    14. Norman Gemmell & Richard Kneller & Ismael Sanz, 2016. "Does the Composition of Government Expenditure Matter for Long-Run GDP Levels?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(4), pages 522-547, August.
    15. Deeken, Tim & Ott, Ingrid, 2014. "Integration as a spatial institution: Implications for agglomeration and growth," Working Paper Series in Economics 59, Karlsruhe Institute of Technology (KIT), Department of Economics and Management.
    16. Christian Groth, 2004. "Innovation and growth: What have we learnt from the robustness debate?," Discussion Papers 04-29, University of Copenhagen. Department of Economics, revised Nov 2004.

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