Chapter

Demographic Transition, Human Capital Accumulation, and Economic Growth

Chin Hee Hahn and Chang-Gyun Park

in The Economic Consequences of Demographic Change in East Asia

Published by University of Chicago Press

Published in print October 2010 | ISBN: 9780226386850
Published online February 2013 | e-ISBN: 9780226386881 | DOI: http://dx.doi.org/10.7208/chicago/9780226386881.003.0004
Demographic Transition, Human Capital Accumulation, and Economic Growth

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This chapter describes the relationships between the speed of demographic transition and per capita income growth, and the speed of demographic transition and human capital accumulation. Both cross-country regression and microlevel household survey data from Korea are used. In this cross-country (141 countries) study, it is specified that a growth regression includes the speed of demographic transition. Three sets of regressions are examined, each having standard variables of the convergence growth model along with one of the three demographic variables, that is, the change in fertility rate; the change in the working-age population ratio; and the change in population growth rate. Korean microdata are used to investigate investment in human capital and take the quality-quantity trade-off seriously. It is stated that with many reasonable control variables, the per-child expenditure on education is negatively influenced by the number of children.

Keywords: demographic transition; per capita income growth; cross-country regression; growth regression; Korean microdata; trade-off

Chapter.  12200 words.  Illustrated.

Subjects: Business and Management

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