Economic progress and declining population growth pdf
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In many advanced economies, the economic recovery from the financial crisis has been sluggish. In light of these developments, it has been argued by various economists that economic growth per capita has already been on a downward trend since the s. Studies suggest that this is largely due to low productivity growth. While factors of production such as labor and capital are being used more productively than ever, growth has been slow in the past years by historical standards.
In many models, economic growth is driven by people discovering new ideas. These models typically assume either a constant or a growing population. However, in high income countries today, fertility is already below its replacement rate: women are having fewer than two children on average. What happens to economic growth when population growth turns negative? The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research. Download Citation Data.
Economic growth can be defined as the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. Statisticians conventionally measure such growth as the percent rate of increase in real gross domestic product , or real GDP. Growth is usually calculated in real terms — i. Measurement of economic growth uses national income accounting. The economic growth-rates of countries are commonly compared [ by whom?
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Skip to search form Skip to main content You are currently offline. Some features of the site may not work correctly. DOI: Hansen Published Economics. In this speech delivered in it is assumed that the high birth rates of the late 19th century were over and that the population decline of the Great Depression would continue. View via Publisher.
Not a MyNAP member yet? Register for a free account to start saving and receiving special member only perks. Below is the uncorrected machine-read text of this chapter, intended to provide our own search engines and external engines with highly rich, chapter-representative searchable text of each book. Conclusion We have examined a diverse set of mechanisms through which population growth affects economic development. This chapter opens with a review and synthesis of our conclusions on the expected effects of a decline in the population grown rate that works through these mechanisms.
Produktivitätswachstum, Investitionen und säkulare Stagnation
Not a MyNAP member yet? Register for a free account to start saving and receiving special member only perks. While there has been a steady increase of population growth during the past two or three centuries, it has been especially rapid during the past 20 years.
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