Population age structure as a determinant of long-run macroeconomic growth: demographic endogenous growth theory

Mutisunge Allan Banda

MPRA Paper from University Library of Munich, Germany

Abstract: Just as human age is a key determinant of individual economic productivity, a population’s age structure is a significant causal factor of economic productivity and growth. This paper attempts to update the traditional theories of economic growth by incorporating demographic transition theory and intergenerational transfers into long run economic growth. Whereas contemporary theory interprets the demographic dividend as a transitory and uncertain exogenous stimulant to economic growth, this paper will attempt to demonstrate that age structure is instead a persistent and endogenous determinant of economic productivity. In addition, the paper will argue that a significant portion of modern and ancient economic divergence can be explained by variations in age structure. These findings will have important implications for policymakers and researchers interested economic development.

Keywords: Demographic Economics; Economic Growth; Economic Theory; Macroeconomics; Quantitative Methods (search for similar items in EconPapers)
JEL-codes: E0 J1 O47 (search for similar items in EconPapers)
Date: 2024-11-18
New Economics Papers: this item is included in nep-age, nep-dem, nep-evo, nep-gro, nep-his and nep-lab
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:122725

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