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Testing Malthusian's and Kremer's population theories in developing economy

Author

Listed:
  • Muhammad Azam
  • Haider Nawaz Khan
  • Farah Khan

Abstract

Purpose - This study aims to test the Malthusian and Kremer theories by exploring the relationship between population and economic growth in a low middle-income economy of India. Design/methodology/approach - The autoregressive distributed lag approach is employed based on the nature of time-series data to achieve the study objectives. In this study, regressand is economic growth measured by real GDP, and the regressors are population growth rate, investment, life expectancy and inflation rate from 1980 to 2018. Findings - Empirical results confirm the applicability of Kremer’s theory. In this theory, population growth has a significant and positive impact on economic growth in the short and long run. Moreover, investment and life expectancy variables have a positive and significant impact on economic growth, whereas inflation rate has a negative association with economic growth. Empirical results support the population-growth-driven economic growth hypothesis, which indicates that population growth stimulates economic growth and development. Practical implications - Empirical findings in this study provide guides for management authorities in formulating the right and relatable policies on population growth whilst promoting economic growth and social welfare. Originality/value - Achieving a desirable level of economic growth is the prime objective of every country. The role of the population in the process of economic growth and development cannot be overlooked. Malthus' and Kremer's views are opposite. Extant literature exhibits that scant research has been carried out on this significant topic in developing countries. Therefore, empirically investigating the effect of population on the growth performance of India as a developing country is necessary and will significantly contribute to the literature. Peer review - The peer review history for this article is available at:https://publons.com/publon/10.1108/IJSE-08-2019-0496

Suggested Citation

  • Muhammad Azam & Haider Nawaz Khan & Farah Khan, 2020. "Testing Malthusian's and Kremer's population theories in developing economy," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 47(4), pages 523-538, March.
    • Handle: RePEc:eme:ijsepp:ijse-08-2019-0496
    DOI: 10.1108/IJSE-08-2019-0496
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    Citations

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    Cited by:

    1. Muhammad Azam & Saleem Khan, 2022. "Threshold effects in the relationship between inflation and economic growth: Further empirical evidence from the developed and developing world," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(4), pages 4224-4243, October.
    2. Ridwan Lanre Ibrahim & Usama Al-Mulali & Kazeem Bello Ajide & Abubakar Mohammed & Mamdouh Abdulaziz Saleh Al-Faryan, 2023. "The Implications of Food Security on Sustainability: Do Trade Facilitation, Population Growth, and Institutional Quality Make or Mar the Target for SSA?," Sustainability, MDPI, vol. 15(3), pages 1-23, January.
    3. Azam Muhammad & Mahdiat Mahdiat & Hafeez Muhammad Haroon & Bakhtyar Baher, 2022. "Investigating the Role of Tourism in Economic Growth: Empirical Evidence from Pakistan," Polish Journal of Sport and Tourism, Sciendo, vol. 29(1), pages 39-47, March.
    4. Muhammad Azam, 2022. "Governance and Economic Growth: Evidence from 14 Latin America and Caribbean Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(2), pages 1470-1495, June.

    More about this item

    Keywords

    Population growth; Economic growth; ARDL; India; J1; O40; C2;
    All these keywords.

    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables

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