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The Role of Human Capital and Population Growth in R&D‐based Models of Economic Growth

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  • Holger Strulik

Abstract

Human capital accumulation is introduced in a growth model with R&D‐driven expansion in variety and quality of intermediate goods and knowledge spillovers from both research activities. Economic growth is no longer uniquely tied to population growth as previous growth models without scale effects suggest. The model predicts that economic growth depends positively on the rate of human capital accumulation and positively or negatively on population growth and is therefore supported by empirical evidence to a greater extent than previous models. In particular, long‐run growth is compatible with a stable population.

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  • Holger Strulik, 2005. "The Role of Human Capital and Population Growth in R&D‐based Models of Economic Growth," Review of International Economics, Wiley Blackwell, vol. 13(1), pages 129-145, February.
  • Handle: RePEc:bla:reviec:v:13:y:2005:i:1:p:129-145
    DOI: 10.1111/j.1467-9396.2005.00495.x
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    More about this item

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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