By Hisakazu Kato
Analyzing the relation among inhabitants components and technological growth is the most objective of this publication. With its declining inhabitants, Japan faces the easy yet tricky challenge of even if sustained financial progress will be maintained. even though there are lots of reviews to enquire destiny monetary progress from the perspective of work strength transition and the lowering saving price, technological growth is crucial issue to be thought of sooner or later course of the japanese financial system. Technological growth is the results of options or advancements within the caliber of human and actual capital. the rise in technological growth, that is measured as overall issue productiveness (TFP), is learned either by means of advancements in productiveness within the brief time period and through financial advancements within the long-term. the writer investigates the connection of inhabitants elements and productiveness, concentrating on productiveness development within the brief time period. Many discussions have lengthy been held in regards to the relation among inhabitants and technological development. From the outdated Malthusian version to the fashionable endogenous financial development types, numerous theories are built within the context of development idea. during this publication, those discussions are summarized in short, with an research of the quantitative relation among inhabitants and technological growth utilizing country-based panel info in contemporary periods.
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Additional resources for An Empirical Analysis of Population and Technological Progress
5 Economic growth per capita and population increase. a 1960–2010, b 1960–1985, c 1985–2010. 3 Population and Economic Growth 33 The correlation coefﬁcient of the data in Fig. 359, which is slightly stronger than the data in Fig. 4. Furthermore, we divided the sample data period into two periods, from 1960 to 1985 and 1985 to 2010, and again estimated the correlation coefﬁcient between them. 5b is the result of the ﬁrst half of the period (1960–1985), and a somewhat weaker relationship seems to exist between the variables during this period than during the period as a whole (1960–2010).
The purpose of this study is to explore the relationship between TFP and population. If the population size (or labor input) is one of the causes of the speed of technological progress, then both factors are not independent in the production function. This study will examine this relationship in detail below. 1 Population and Economic Growth Population and Economic Growth As described above, technological progress is the most important factor for economic growth. However, we cannot directly measure technological progress through the use of indicators; therefore, TFP is utilized as a proxy variable.
A_ LbA Lb cbA ¼ ¼ ; A l l ð3:3Þ where β is a constant for representing effectiveness and direction of labor input. In a case where b [ 0, then as the labor force engaged in technological development increases, the rate of technological progress accelerates. However, where b\0, the opposite situation is true. Furthermore, in the case that the aging will 2 This model is in reference to Jones (2005). 3 Theoretical and Empirical Analysis … 42 promote in the society and the younger population who have creative ability will decrease, then μ will rise and the growth rate of technological progress will fall in relation.
An Empirical Analysis of Population and Technological Progress by Hisakazu Kato