TITLE:
Notes on Economic Growth with Scale Effects: Is Depopulation Compatible with Growth?
AUTHORS:
Masao Nakagawa, Asuka Oura, Yoshiaki Sugimoto
KEYWORDS:
Scale Effect, Depopulation, Human Capital, Growth
JOURNAL NAME:
Theoretical Economics Letters,
Vol.5 No.2,
March
27,
2015
ABSTRACT: This research develops
a simple theory to analyze the compatibility of depopulation and sustainable
growth. By introducing the scale effect of aggregate rather than average human
capital, it shows that the economy may enter a sustainable growth path with
fertility recovery, keeping away from a non-Malthusian poverty trap.