R&D-based growth in the post-modern era

Arbeitspapier

Conventional R&D-based growth theory suggests that productivity growth is positively correlated with population size or population growth, an implication which is hard to see in the data. Here we integrate micro-founded fertility and schooling into an otherwise standard R&D-based growth model. We then show how a Beckerian child quality-quantity trade-off explains why higher growth of productivity and income per capita are associated with lower population growth. The medium-run prospects for future economic growth - when fertility is going to be below replacement level in virtually all fully developed countries - are thus much better than predicted by conventional R&D-based growth theory.

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• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Vienna Institute of Demography Working Papers ; No. 9/2010

Classification and Topics

• Classification: Wirtschaft ; Fertility; Family Planning; Child Care; Children; Youth ; Human Capital; Skills; Occupational Choice; Labor Productivity ; Economic Development: General ; Innovation; Research and Development; Technological Change; Intellectual Property Rights: General ; Economic Growth and Aggregate Productivity: General
• Subject: Endogenous growth ; R&D ; declining population ; fertility ; schooling ; human capital ; postmodern society ; post-transitional fertility ; Technischer Fortschritt ; Bevölkerungsentwicklung ; Fertilität ; Humankapital ; Sozialer Wandel ; Neue Wachstumstheorie ; Theorie

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Strulik, Holger ; Prettner, Klaus ; Prskawetz, Alexia
• Event: Veröffentlichung
• (who): Austrian Academy of Sciences (ÖAW), Vienna Institute of Demography (VID)
• (where): Vienna
• (when): 2010

Further information

• Handle: http://hdl.handle.net/10419/97004