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Growth with human capital accumulation and declining population: an augmented Solow model approach

Author

Listed:
  • Hiroaki Sasaki

    (Kyoto University)

  • Taichi Hori

    (Kyoto University)

  • Rokuhisa Hasegawa

    (Kyoto University)

  • Shigehiro Tajiri

    (Kyoto University)

  • Kaito Nakamura

    (Kyoto University)

Abstract

This study examines how the long-run growth rate of per capita income is determined when population growth is negative. It uses the augmented Solow growth model as a tool for this investigation. The results reveal four distinct types of dynamics, depending on the parameter combinations. In all these dynamics, the long-run growth rate of per capita income remains positive. This finding implies that sustainable growth in per capita income is achievable, even in the context of negative population growth.

Suggested Citation

  • Hiroaki Sasaki & Taichi Hori & Rokuhisa Hasegawa & Shigehiro Tajiri & Kaito Nakamura, 2025. "Growth with human capital accumulation and declining population: an augmented Solow model approach," Economics Bulletin, AccessEcon, vol. 45(1), pages 63-72.
    • Handle: RePEc:ebl:ecbull:eb-24-00094
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    File URL: http://www.accessecon.com/Pubs/EB/2025/Volume45/EB-25-V45-I1-P7.pdf
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    More about this item

    Keywords

    augmented Solow model; human capital accumulation; declining population;
    All these keywords.

    JEL classification:

    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • J1 - Labor and Demographic Economics - - Demographic Economics

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