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The Role of Human Capital and Population Growth in R&D-Based Models of Economic Growth

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Listed author(s):
  • Holger Strulik

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Abstract

Human capital accumulation is introduced in a growth model with R\&D-driven expansion in variety and quality of intermediate goods andknowledge 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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File URL: http://www.rrz.uni-hamburg.de/wst/qmwps/qm701.pdf
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Paper provided by Hamburg University, Department of Economics in its series Quantitative Macroeconomics Working Papers with number 20109.

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Date of creation: Sep 2001
Handle: RePEc:ham:qmwops:20109
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Web page: http://www.uni-hamburg.de/onTEAM/grafik/1223630633/RePec/ham

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Keywords: Human Capital; Population Growth; Endogenous Economic Growth; R&D-Spillovers;

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Find related papers by 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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  1. Robert J. Barro, 2013. "Inflation and Economic Growth," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
  2. Blaug,Mark, 1997. "Economic Theory in Retrospect," Cambridge Books, Cambridge University Press, number 9780521577014, November.
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  9. Li, Chol-Won, 2000. "Endogenous vs. Semi-endogenous Growth in a Two-R&D-Sector Model," Economic Journal, Royal Economic Society, vol. 110(462), pages 109-122, March.
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  13. Alwyn Young, 1998. "Growth without Scale Effects," Journal of Political Economy, University of Chicago Press, vol. 106(1), pages 41-63, February.
  14. Segerstrom, Paul S, 1998. "Endogenous Growth without Scale Effects," American Economic Review, American Economic Association, vol. 88(5), pages 1290-1310, December.
  15. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-784, August.
  16. Altonji, Joseph G & Hayashi, Fumio & Kotlikoff, Laurence J, 1997. "Parental Altruism and Inter Vivos Transfers: Theory and Evidence," Journal of Political Economy, University of Chicago Press, vol. 105(6), pages 1121-1166, December.
  17. Nerlove, Marc & Razin, Assaf & Sadka, Efraim, 1982. "Population size and the social welfare functions of Bentham and Mill," Economics Letters, Elsevier, vol. 10(1-2), pages 61-64.
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