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The tradeoff between fertility and education: Evidence from the Korean development path

Bogang Jun () and Joongho Lee

No 92-2014, FZID Discussion Papers from University of Hohenheim, Center for Research on Innovation and Services (FZID)

Abstract: Unified Growth Theory suggests the demographic transition and the associated rise in human capital formation were critical forces in the transition from Malthusian stagnation to modern economic growth. This paper provides empirical evidence in support of this hypothesis based on the Korean industrialization in the late 20th century. Using a fixed effects model and a fixed effect two-stage least squares model, this study exploits variations in fertility and in human capital formation across regions in Korea over the period 1970 to 2010. This analysis finds a virtuous cycle, where technological progress increased the demand for human capital, leading to an increase in the level of education and, in turn, to a demographic transition. This establishes the existence of a quantity-quality tradeoff on the Korean development path.

Keywords: Demographic transition; Quantity-quality trade-off; Malthusian stagnation; Unified Growth Theory (search for similar items in EconPapers)
JEL-codes: I25 J13 N15 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-gro, nep-his and nep-hrm
Date: 2014
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Working Paper: The Trade-off between Fertility and Education: Evidence from the Korean Development Path (2013) Downloads
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