Population growth and endogenous technological change: Australian economic growth in the long run

Banerjee, Rajabrata (2011): Population growth and endogenous technological change: Australian economic growth in the long run.

Abstract

The Australian growth experience appears to be a three-act phenomenon, with higher per capita income and living standards before 1890 and after 1940, disconnected by a 50-year period of no trend improvement in between. This paper examines the roles of technological progress and population growth in Australian productivity growth over the past two centuries. The empirical results confirm that while population growth had a negative effect, innovative activity had a positive effect on productivity growth. Furthermore, the estimates strongly support the Schumpeterian growth hypothesis, which predicts that productivity growth is driven by the levels of research intensity in the economy.

• Item Type: MPRA Paper
• Language: English
• Keywords: endogenous growth; technological progress; population
• Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights

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