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Population Dynamics and Long-Run Economic Growth

Author

Listed:
  • Casey, Gregory
  • Galor, Oded

Abstract

This paper applies insights from theoretical and empirical research in economic growth to analyze the impacts of policies affecting fertility, migration and human capital accumulation on growth and poverty alleviation. It underlines the tradeoff between having more children and investing more resources in the human capital of each child as a critical force in devising policies that will alleviate hardship and generate long-term prosperity. In developing countries, policies increasing the return to education would trigger a virtuous cycle of fertility control, investment in education, poverty alleviation, and economic growth. Moreover, permitting migration of high skilled individuals to developed countries would mitigate the issues associated with aging populations in those societies, while encouraging human capital formation in developing countries.

Suggested Citation

  • Casey, Gregory & Galor, Oded, 2014. "Population Dynamics and Long-Run Economic Growth," MPRA Paper 62598, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:62598
    as

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    File URL: https://mpra.ub.uni-muenchen.de/62598/1/MPRA_paper_62598.pdf
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    References listed on IDEAS

    as
    1. Oded Galor & Omer Moav, 2002. "Natural Selection and the Origin of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 117(4), pages 1133-1191.
    2. Quamrul Ashraf & Oded Galor, 2011. "Dynamics and Stagnation in the Malthusian Epoch," American Economic Review, American Economic Association, vol. 101(5), pages 2003-2041, August.
    3. Galor, Oded & Klemp, Marc, 2014. "The Biocultural Origins of Human Capital Formation," IZA Discussion Papers 8433, Institute for the Study of Labor (IZA).
    4. Oded Galor, 2012. "The demographic transition: causes and consequences," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 6(1), pages 1-28, January.
    5. Quamrul H. Ashraf & David N. Weil & Joshua Wilde, 2013. "The Effect of Fertility Reduction on Economic Growth," Population and Development Review, The Population Council, Inc., vol. 39(1), pages 97-130, March.
    6. Tommy E. Murphy, 2010. "Old Habits Die Hard (Sometimes) Can département heterogeneity tell us something about the French fertility decline??," Working Papers 364, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    7. Mountford, Andrew & Rapoport, Hillel, 2011. "The brain drain and the world distribution of income," Journal of Development Economics, Elsevier, vol. 95(1), pages 4-17, May.
    8. Matthias Doepke & Fabrizio Zilibotti, 2005. "The Macroeconomics of Child Labor Regulation," American Economic Review, American Economic Association, vol. 95(5), pages 1492-1524, December.
    9. Galor, Oded, 2005. "From Stagnation to Growth: Unified Growth Theory," Handbook of Economic Growth,in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 4, pages 171-293 Elsevier.
    10. Klemp, Marc P B & Weisdorf, Jacob, 2012. "Fecundity, Fertility and Family Reconstitution Data: The Child Quantity-Quality Trade-O Revisite," CEPR Discussion Papers 9121, C.E.P.R. Discussion Papers.
    11. Sascha Becker & Francesco Cinnirella & Ludger Woessmann, 2010. "The trade-off between fertility and education: evidence from before the demographic transition," Journal of Economic Growth, Springer, vol. 15(3), pages 177-204, September.
    12. Galor, Oded & Weil, David N, 1996. "The Gender Gap, Fertility, and Growth," American Economic Review, American Economic Association, vol. 86(3), pages 374-387, June.
    13. Frédéric Docquier & Hillel Rapoport, 2012. "Globalization, Brain Drain, and Development," Journal of Economic Literature, American Economic Association, vol. 50(3), pages 681-730, September.
    14. Oded Galor, 2011. "Unified Growth Theory and Comparative Development," Rivista di Politica Economica, SIPI Spa, issue 2, pages 9-21, April-Jun.
    15. Omer Moav, 2005. "Cheap Children and the Persistence of Poverty," Economic Journal, Royal Economic Society, vol. 115(500), pages 88-110, January.
    16. Oded Galor & Omer Moav, 2006. "Das Human-Kapital: A Theory of the Demise of the Class Structure," Review of Economic Studies, Oxford University Press, vol. 73(1), pages 85-117.
    17. Schultz, T Paul, 1985. "Changing World Prices, Women's Wages, and the Fertility Transition: Sweden, 1860-1910," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1126-1154, December.
    18. Rosenzweig, Mark R & Wolpin, Kenneth I, 1980. "Testing the Quantity-Quality Fertility Model: The Use of Twins as a Natural Experiment," Econometrica, Econometric Society, vol. 48(1), pages 227-240, January.
    19. T. Paul Schultz & John A. Strauss (ed.), 2008. "Handbook of Development Economics," Handbook of Development Economics, Elsevier, edition 1, volume 4, number 5, January.
    20. Oded Galor & Omer Moav & Dietrich Vollrath, 2009. "Inequality in Landownership, the Emergence of Human-Capital Promoting Institutions, and the Great Divergence," Review of Economic Studies, Oxford University Press, vol. 76(1), pages 143-179.
    21. Moshe Hazan & Binyamin Berdugo, 2002. "Child Labour, Fertility, and Economic Growth," Economic Journal, Royal Economic Society, vol. 112(482), pages 810-828, October.
    22. Fabrice Murtin, 2013. "Long-Term Determinants of the Demographic Transition, 1870–2000," The Review of Economics and Statistics, MIT Press, vol. 95(2), pages 617-631, May.
    23. David N. Weil & Oded Galor, 2000. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," American Economic Review, American Economic Association, vol. 90(4), pages 806-828, September.
    24. Oded Galor & Andrew Mountford, 2008. "Trading Population for Productivity: Theory and Evidence," Review of Economic Studies, Oxford University Press, vol. 75(4), pages 1143-1179.
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    More about this item

    Keywords

    Fertility; Demographic Structure; Unified Growth Theory; Migration;

    JEL classification:

    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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