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Population and economic growth with human and physical capital investments

Author

Listed:
  • Alberto BUCCI
  • Davide LA TORRE

Abstract

We present a two-sector endogenous growth model with human and physical capital accumulation in order to analyze the long run relationship between population growth and real per capita income growth. Learning is assumed to affect agents? decision of how much to invest in formal education. Along the balanced growth path equilibrium population change may have a positive, negative, or neutral effect on economic growth depending on whether physical and human capital are complementary/substitutes for each other in the production of new human capital and on their degree of complementarity.

Suggested Citation

  • Alberto BUCCI & Davide LA TORRE, 2007. "Population and economic growth with human and physical capital investments," Departmental Working Papers 2007-045, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    • Handle: RePEc:mil:wpdepa:2007-045
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    More about this item

    Keywords

    Economic Growth; Population Chang; Learning by using; Human Capital Investment; Physical Capital Accumulation;
    All these keywords.

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General

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