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| Hiroaki Sasaki, Taichi Hori, Rokuhisa Hasegawa, Shigehiro Tajiri and Kaito Nakamura |
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| ''Growth with human capital accumulation and declining population: an augmented Solow model approach'' |
| ( 2025, Vol. 45 No.1 ) |
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| This study examines how the long-run growth rate of per capita income is determined when population growth is negative. It uses the augmented Solow growth model as a tool for this investigation. The results reveal four distinct types of dynamics, depending on the parameter combinations. In all these dynamics, the long-run growth rate of per capita income remains positive. This finding implies that sustainable growth in per capita income is achievable, even in the context of negative population growth. |
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| Keywords: augmented Solow model, human capital accumulation, declining population |
JEL: O4 - Economic Growth and Aggregate Productivity: General
J1 - Demographic Economics: General |
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| Manuscript Received : Mar 07 2024 | | Manuscript Accepted : Mar 30 2025 |
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