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 straightforward yet tough challenge of even if sustained fiscal progress should be maintained. even supposing there are numerous reviews to enquire destiny monetary progress from the viewpoint of work strength transition and the lowering saving fee, technological growth is crucial issue to be thought of sooner or later direction of the japanese economic climate. Technological growth is the results of thoughts or advancements within the caliber of human and actual capital. the rise in technological development, that's measured as overall issue productiveness (TFP), is learned either by means of advancements in productiveness within the brief time period and via fiscal advancements within the long-term. the writer investigates the connection of inhabitants components and productiveness, targeting productiveness development within the brief time period. Many discussions have lengthy been held in regards to the relation among inhabitants and technological growth. From the outdated Malthusian version to the fashionable endogenous financial development types, a number of theories are constructed within the context of development conception. during this e-book, those discussions are summarized in brief, with an research of the quantitative relation among inhabitants and technological development utilizing country-based panel information in contemporary periods.
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Extra info for An Empirical Analysis of Population and Technological Progress
OECD Economic Studies 37. , & Hajkova, D. (2007). Measuring multifactor productivity growth. OECD Science, Technology and Industry Working Papers, 2007/05. World Bank. (2015). World Bank Open Data. 30). Chapter 3 Theoretical and Empirical Analysis of Population and Technological Progress Abstract This chapter conﬁrms the relationship between population growth and technological progress using theoretical and empirical studies. First, we look at some theories of technological progress in terms of population scale and growth.
1 depicts the main productivity measures from the OECD (2001). The OECD (2001) offered an explanation of the productivity deﬁnition. As for labor productivity, based on value added, it is deﬁned as the quantity index of value added, divided by the quantity index of labor input. Capital–labor MFP, based on value added, is deﬁned as the quantity index of value added divided by the quantity index of combined labor and capital input, and so on. 6 (2) Independence between TFP and Labor From the above discussions, it can be said that TFP or MFP is a proxy index of technological progress and has an important role in growth accounting.
The ﬁxed-effect model is shown by Eq. 7). 3 Preparation for Empirical Analysis 45 The third method is a random-effect model. It is assumed that the heterogeneity of the cross section is included in part of the disturbance term as shown by Eq. 8). Because the disturbance term contains a peculiar cross section term, heteroskedasticity should be assumed in the model. Therefore, the method of generalized least square (GLS) is used for the estimation. Yit ¼ a þ bXit þ ðvi þ uit Þ ð3:8Þ The model’s application judgment is roughly as follows.
An Empirical Analysis of Population and Technological Progress by Hisakazu Kato