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Population Growth and Local Home Environment Externality in an Endogenous Growth Model with Two Engines of Growth

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  • Shirou Kuwahara

    ()
    (Graduate School of Systems and Information Engineering, University of Tsukuba)

  • Katsunori Yamada

    ()
    (Graduate School of Economics, Osaka University)

Abstract

This paper presents an endogenous growth model with population growth and an inter-generational spillover of human capital: we consider the ``local home environment externality conceptualized by Galor and Tsiddon (1997a). The model will generate a negative relationship between the population growth rate and the per capita GDP growth rate, which is also present in the data. Furthermore, multiple equilibrium paths will result. As far as we know, this is the first paper that derives a multiplicity of steady growth paths in a model with two sources of growth and the Jones technology. The paper also casts a paradox that the GDP growth rate may be higher in the society without the externality than the one in the economy with externality.

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File URL: http://www2.econ.osaka-u.ac.jp/library/global/dp/0722.pdf
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Bibliographic Info

Paper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number 07-22.

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Length: 29 pages
Date of creation: Jun 2007
Date of revision:
Handle: RePEc:osk:wpaper:0722

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Web page: http://www.econ.osaka-u.ac.jp/
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Keywords: population growth; multiple equilibria; R&D; Jones technology; the local home environment externality;

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