R&D-based growth in the post-modern era

Arbeitspapier

Conventional R&D-based growth theory suggests that productivity growth is positively correlated with population size or population growth, an implication which is hard to see in the data. Here we integrate R&D-based growth into a unified growth setup with micro-founded fertility and schooling behavior. We then show how a Beckerian child quality-quantity trade-off explains why higher growth of productivity and income per capita are associated with lower population growth. The medium-run prospects for future economic growth - when fertility is going to be below replacement level in virtually all developed countries - are thus much better than predicted by conventional R&D-based growth theory.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ECON WPS ; No. 04/2011

Classification and Topics

• Classification: Wirtschaft ; Fertility; Family Planning; Child Care; Children; Youth ; Human Capital; Skills; Occupational Choice; Labor Productivity ; Economic Development: General ; Innovation; Research and Development; Technological Change; Intellectual Property Rights: General ; Economic Growth and Aggregate Productivity: General
• Subject: R&D ; unified growth theory ; declining population ; fertility ; schooling ; human capital ; post-modern society

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Strulik, Holger ; Prettner, Klaus ; Prskawetz, Alexia
• Event: Veröffentlichung
• (who): Vienna University of Technology, Institute of Mathematical Methods in Economics, Research Group Economics
• (where): Vienna
• (when): 2011

Further information

• Handle: http://hdl.handle.net/10419/67605
• Last update: 10.03.2025, 11:43 AM CET