Population Dynamics in Optimally Controlled Economic Growth Models: Case of Cobb-Douglas Production with Human Capital

2017 ◽  
Vol 7 (1) ◽  
pp. 1-27
Author(s):  
S Opuni-Basoa ◽  
F Oduro ◽  
G Okyere
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Population Dynamics ◽  
Growth Models ◽  
Economic Growth Models

On the Effectiveness of Growth- Enhancing Policies in a Model of Growth Without Scale Effects

2002 ◽  
Vol 3 (3) ◽  
pp. 339-346 ◽  
Author(s):  
Lutz G. Arnold
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Human Capital ◽  
Population Growth ◽  
Capital Accumulation ◽  
Scale Effects ◽  
Growth Models ◽  
Empirical Studies ◽  
Human Capital Accumulation ◽  
Accelerate Growth

Abstract Standard R&D growth models have two disturbing properties: the presence of scale effects (i.e., the prediction that larger economies grow faster) and the implication that there is a multitude of growth-enhancing policies. Recent models of growth without scale effects, such as Segerstrom's (1998), not only remove the counterfactual scale effect, but also imply that the growth rate does not react to any kind of economic policy. They share a different disturbing property, however: economic growth depends positively on population growth, and the economy cannot grow in the absence of population growth. The present paper integrates human capital accumulation into Segerstrom's (1998) model of growth without scale effects. Consistent with many empirical studies, growth is positively related not to population growth, but to investment in human capital. And there is one way to accelerate growth: subsidizing education.

scholarly journals Research and development in economic growth models and structural changes

2017 ◽  
Vol 11 (2) ◽  
pp. 55-72
Author(s):  
Marija Mosurovic-Ruzicic ◽  
Nikola Fabris ◽  
Djuro Kutlaca
Keyword(s):  
Economic Growth ◽  
Research And Development ◽  
Structural Changes ◽  
Growth Models ◽  
Economic Growth Models
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