Growth with human capital accumulation and declining population: an augmented Solow model approach

Hiroaki Sasaki, Taichi Hori (), Rokuhisa Hasegawa (), Shigehiro Tajiri () and Kaito Nakamura ()
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Taichi Hori: Kyoto University
Rokuhisa Hasegawa: Kyoto University
Shigehiro Tajiri: Kyoto University
Kaito Nakamura: Kyoto University

Economics Bulletin, 2025, vol. 45, issue 1, 63 - 72

Abstract: This study examines how the long-run growth rate of per capita income is determined when population growth is negative. It uses the augmented Solow growth model as a tool for this investigation. The results reveal four distinct types of dynamics, depending on the parameter combinations. In all these dynamics, the long-run growth rate of per capita income remains positive. This finding implies that sustainable growth in per capita income is achievable, even in the context of negative population growth.

Keywords: augmented Solow model; human capital accumulation; declining population (search for similar items in EconPapers)
JEL-codes: J1 O4 (search for similar items in EconPapers)
Date: 2025-03-30
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