Renström, T. and Spataro, L. (2015) 'Population growth and human capital : a welfarist approach.', The Manchester school., 83 (S2). pp. 110-141.
In this paper, we investigate the relationship between economic and population growth in an endogenous growth model driven by human capital accumulation Because we allow for endogenous population growth, we adopt the population criterion “Relative Critical Level Utilitarianism”, which allows the critical level utility to depend on parents' well-being. In this scenario, we investigate the equilibrium relationship between economic growth and population growth and we provide the conditions for the economic take-off to occur. A simulation analysis calibrated on developing countries shows that the model has the potential to explain the dynamics of the latter variables experienced by those countries.
|Keywords:||Population growth, Endogenous growth, Human capital, Critical level utilitarianism.|
|Full text:||(AM) Accepted Manuscript|
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|Publisher Web site:||http://dx.doi.org/10.1111/manc.12110|
|Publisher statement:||This is the accepted version of the following article: Renström, T. I. and Spataro, L. (2015), Population Growth and Human Capital: A Welfarist Approach. The Manchester School, 83(S2): 110-141, which has been published in final form at http://dx.doi.org/10.1111/manc.12110. This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.|
|Date accepted:||11 May 2015|
|Date deposited:||08 June 2015|
|Date of first online publication:||24 August 2015|
|Date first made open access:||24 August 2017|
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