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- W2187573618 abstract "This paper shows that by endogenizing population growth rate an endogenous growth model under productive consumption hypothesis (PCH) can be more tractable than we have considered so far, and finds that PCH may have important implications for population dynamics. In contrast to Steger (2000), we focus on a BGP with a constant level of per-capita income. We find that the model may have a unique or multiple saddle-point stable BGPs in both no- and positive-saving phases. In the no-saving phase more relevant to poor economies, population growth rate may rise or decline monotonically along a transition path. The theoretical results are realistically relevant; the recent trend of declining population growth rates in modern developing countries could be explained. Furthermore, we find that “human development” aid promoting the accumulation of knowledge about nutrition, health and/or education may reduce per-capita GDP and does not always improve welfare." @default.
- W2187573618 created "2016-06-24" @default.
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- W2187573618 date "2006-01-01" @default.
- W2187573618 modified "2023-09-26" @default.
- W2187573618 title "Productive Consumption and Population Dynamics in an Endogenous Growth Model: Why Are Population Growth Rates Declining in Poor Countries? †" @default.
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