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R\&D-based Growth in the Post-modern Era

Holger Strulik (), Klaus Prettner () and Alexia Prskawetz

Hannover Economic Papers (HEP) from Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät

Abstract: 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 microfounded 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.

Keywords: endogenous growth; R\&D; declining population; fertility; schooling; human capital; post-modern society; post-transitional fertility (search for similar items in EconPapers)
JEL-codes: J13 J24 O10 O30 O40 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge, nep-fdg, nep-ino and nep-mic
Date: 2010-10
References: View complete reference list from CitEc
Citations: View citations in EconPapers (10) Track citations by RSS feed

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Related works:
Working Paper: R&D-based Growth in the Post-modern Era (2011) Downloads
Working Paper: R&D-based growth in the post-modern era (2011) Downloads
Working Paper: R&D-Based Growth in the Post-Modern Era (2010) Downloads
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