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Population growth and endogenous technological change: Australian economic growth in the long run

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  • Banerjee, Rajabrata

Abstract

The Australian growth experience appears to be a three-act phenomenon, with higher per capita income and living standards before 1890 and after 1940, disconnected by a 50-year period of no trend improvement in between. This paper examines the roles of technological progress and population growth in Australian productivity growth over the past two centuries. The empirical results confirm that while population growth had a negative effect, innovative activity had a positive effect on productivity growth. Furthermore, the estimates strongly support the Schumpeterian growth hypothesis, which predicts that productivity growth is driven by the levels of research intensity in the economy.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 30892.

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Date of creation: Mar 2011
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Handle: RePEc:pra:mprapa:30892

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Keywords: endogenous growth; technological progress; population;

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Citations

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Cited by:
  1. Amavilah, Voxi Heinrich, 2014. "Human Knowledge and a Commonsensical Measure of Human Capital: A Proposal," MPRA Paper 57670, University Library of Munich, Germany.
  2. John Foster, 2014. "The Australian multi-factor productivity growth illusion," Discussion Papers Series, School of Economics, University of Queensland, Australia 520, School of Economics, University of Queensland, Australia.
  3. Banerjee, Rajabrata & Roy, Saikat Sinha, 2014. "Human capital, technological progress and trade: What explains India's long run growth?," Journal of Asian Economics, Elsevier, Elsevier, vol. 30(C), pages 15-31.
  4. Banerjee, Rajabrata, 2011. "The US-UK productivity gap in the twentieth century: a race between technology and population," MPRA Paper 30889, University Library of Munich, Germany.
  5. John Foster, 2014. "The Australian growth miracle: An evolutionary macroeconomic explanation," Discussion Papers Series, School of Economics, University of Queensland, Australia 521, School of Economics, University of Queensland, Australia.

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