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Endogenous fertility, mortality and growth.
Journal of Population Economics
|September 26, 2002
Summary
This study models how economic development and population dynamics, including fertility and mortality, are interconnected. It shows how parental choices and government healthcare impact long-term economic growth and demographic trends.
Area of Science:
- Economics
- Demography
- Development Studies
Background:
- Economic and demographic outcomes are often studied separately.
- Understanding the interplay between population dynamics and economic development is crucial for policy-making.
Purpose of the Study:
- To present a choice-theoretic model illustrating the joint determination of population and economic development.
- To analyze the impact of fertility, mortality, and capital accumulation on economic outcomes.
Main Methods:
- Development of a choice-theoretic model incorporating fertility, mortality, and capital accumulation.
- Inclusion of parental health-care expenditures and government-provided healthcare.
- Utilization of a generalized production technology for endogenous growth analysis.
Main Results:
- The model demonstrates a joint determination of economic and demographic outcomes.
- Parental decisions on savings, births, and healthcare influence development.
- The model yields testable implications consistent with empirical evidence.
Conclusions:
- Economic development and population dynamics are intrinsically linked.
- Parental choices and healthcare investments play a significant role in shaping demographic and economic trajectories.
- The model provides a framework for understanding long-run endogenous growth influenced by demographic factors.