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Population Growth and Economic Development: New Empirical Evidence from Thailand

Author

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  • Fumitaka Furuoka

    () (Universiti Malaysia Sabah)

Abstract

Population growth has a substantial impact on economic development. There are two schools of thought regarding this issue. Some researchers maintain that population has a negative impact on economic development while others are convinced that the effect is positive. This paper aims to provide additional evidence by employing the bounds test (Pesaran et al., 2001) to analyse a long-run relationship between population growth and economic development in Thailand. The findings of this study indicate the existence of a long-run equilibrium relationship between population growth and economic development in Thailand. Also, the findings show that there exists a unidirectional causality from population growth to economic development in Thailand. This means that population growth in Thailand has a positive impact on the country's economic performance. These findings support the population-driven economic growth hypothesis which states that population growth promotes economic development.

Suggested Citation

  • Fumitaka Furuoka, 2009. "Population Growth and Economic Development: New Empirical Evidence from Thailand," Economics Bulletin, AccessEcon, vol. 29(1), pages 1-14.
  • Handle: RePEc:ebl:ecbull:eb-08j10009
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    References listed on IDEAS

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    1. Alberto Bucci & Davide Torre, 2009. "Population and economic growth with human and physical capital investments," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 56(1), pages 17-27, March.
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    3. John Thornton, 2001. "Population Growth and Economic Growth: Long-Run Evidence from Latin America," Southern Economic Journal, Southern Economic Association, vol. 68(2), pages 464-468, October.
    4. Frederic Tournemaine, 2007. "Can population promote income per-capita growth? A balanced perspective," Economics Bulletin, AccessEcon, vol. 15(8), pages 1-7.
    5. Stephan Klasen & David Lawson, 2007. "The Impact of Population Growth on Economic Growth and Poverty Reduction in Uganda," Departmental Discussion Papers 133, University of Goettingen, Department of Economics, revised 25 May 2007.
    6. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
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    Citations

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    Cited by:

    1. Ndoricimpa Arcade, 2017. "Working Paper 249 - Threshold Effects of Inflation on Economic Growth in Africa: Evidence from a Dynamic Panel Threshold Regression," Working Paper Series 2359, African Development Bank.
    2. Furuoka, Fumitaka, 2014. "Population and economic development in Sarawak, Malaysia," MPRA Paper 60636, University Library of Munich, Germany.
    3. Fumitaka Furuoka & Qaiser Munir, 2011. "Can population growth contribute to economic development? New evidence from Singapore," Economics Bulletin, AccessEcon, vol. 31(4), pages 3226-3239.
    4. Zhang Wei-Bin, 2014. "Land Value and Rent Dynamics in an Integrated Walrasian General Equilibrium and Neoclassical Growth Theory," Scientific Annals of Economics and Business, De Gruyter Open, vol. 61(2), pages 235-258, December.
    5. Wei-Bin Zhang, 2014. "Environmental Dynamics in an Integrated Walrasian-General Equilibrium and Neoclassical-Growth Theory," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 39(3), pages 51-80, September.
    6. Rana Nabeel Ahmed & Kahlil Ahmad, 2016. "Impact of Population on Economic Growth: A Case Study of Pakistan," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 5(3), pages 162-176, September.
    7. Al Mamun, Md. & Sohag, Kazi & Hannan Mia, Md. Abdul & Salah Uddin, Gazi & Ozturk, Ilhan, 2014. "Regional differences in the dynamic linkage between CO2 emissions, sectoral output and economic growth," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 1-11.
    8. Zhang, W.-B., 2014. "Ethnic Human Capital Externalities and Inequality in a General Equilibrium Growth Model," Journal of the New Economic Association, New Economic Association, vol. 21(1), pages 33-54.
    9. Wei-Bin Zhang, 2014. "Growth and inequality examined by integrating the Walrasian general equilibrium and neoclassical growth theories," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Eastern Macedonia and Thrace Institute of Technology (EMATTECH), Kavala, Greece, vol. 7(1), pages 7-32, April.
    10. repec:bla:afrdev:v:29:y:2017:i:3:p:471-484 is not listed on IDEAS
    11. Wei-Bin ZHANG, 2015. "Tourism, Trade And Wealth Accumulation With Endogenous Income And Wealth Distribution Among Countries," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 4(1), pages 1-1, January.
    12. Jorge Garza-Rodriguez & Cecilia I. Andrade-Velasco & Karen D. Martinez-Silva & Francisco D. Renteria-Rodriguez & Pedro A. Vallejo-Castillo, 2016. "The relationship between population growth and economic growth in Mexico," Economics Bulletin, AccessEcon, vol. 36(1), pages 97-107.
    13. Prof. Wei-Bin Zhang, 2015. "Economic Oscillations in a Multi-Country Growth Model with Free Trade and Tourism," Eurasian Business & Economics Journal, Eurasian Academy Of Sciences, vol. 2(2), pages 1-19, July.

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    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics

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