This book studies optimal economic growth in a closed economy which
experiences non-stable population growth. The economy is described
by means of a neoclassical growth model which distinguishes
overlapping generations within the population. The basic
neoclassical growth model is extended to include various types of
technical change, as well as investment in human capital or
education. The research described in this book connects the
analytical tools of traditional growth theory with the actual
demographic experience of most industrialized countries. The role
of demographic processes in the growth theoretical literature is
discussed in the next section. The discussion will show that growth
theory needs to extend its scope through the construction of growth
models which explicitly recognize demographic forces as a potential
source of non-stationarities. This book constitutes a first attempt
at such a demographic extension. 1.1 Growth theory and demographic
change The theory of economic growth (e.g. Solow, 1970; Burmeister
& Dobell, 1970; Wan, 1971) attempts to describe and to explain
the long-run development of an economic system (or, in short,
economy). An economic system is essentially dynamic in nature.
Among the most important sources of dynamics in economics are the
following: accumulation of capital (investment); technical change;
population growth. Some of these dynamic forces are, at least in
part, endogenous to the economic system (i.e. determined by
economic variables).
General
| Imprint: |
Springer-Verlag
|
| Country of origin: |
Germany |
| Series: |
Studies in Contemporary Economics |
| Release date: |
October 1989 |
| First published: |
1982 |
| Authors: |
Evert Van Imhoff
|
| Dimensions: |
242 x 170 x 12mm (L x W x T) |
| Format: |
Paperback
|
| Pages: |
219 |
| Edition: |
Softcover reprint of the original 1st ed. 1989 |
| ISBN-13: |
978-3-540-51556-2 |
| Categories: |
Books >
Business & Economics >
Economics >
Political economy
|
| LSN: |
3-540-51556-9 |
| Barcode: |
9783540515562 |
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