Human-capital spillover, population and R&D-based growth

Bharat Diwakar and Gilad Sorek

The B.E. Journal of Macroeconomics, 2017, vol. 17, issue 1, 17

Abstract: We study two-sector R&D model with endogenous human capital accumulation. Allowing for fractional human capital spillover from parents to their offspring, which are subject to congestion in fertility rate, we establish non-monotonic relations between population growth and economic growth. These non-monotonic relations, which are polynomial in general, are determined by the base level of human capital spillover and the magnitude of the congestion effect: a U shape relation can arise under low congestion factor, whereas a hump shape may present for high congestion factor. Hence this work contributes to the recent line of modified R&D-based growth models, aimed to align theory with the mixed empirical data on the relation between population growth and economic prosperity.

Keywords: human-capital spillover; innovation-based growth; population growth (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1515/bejm-2016-0029

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