By Hisakazu Kato
Analyzing the relation among inhabitants elements and technological growth is the most objective of this e-book. With its declining inhabitants, Japan faces the straightforward yet tough challenge of even if sustained financial development could be maintained. even though there are various experiences to enquire destiny financial progress from the perspective of work strength transition and the reducing saving cost, technological growth is crucial issue to be thought of sooner or later course of the japanese economic climate. Technological growth is the results of concepts or advancements within the caliber of human and actual capital. the rise in technological growth, that is measured as overall issue productiveness (TFP), is learned either through advancements in productiveness within the brief time period and by way of fiscal advancements within the long-term. the writer investigates the connection of inhabitants components and productiveness, concentrating on productiveness development within the brief time period. Many discussions have lengthy been held concerning the relation among inhabitants and technological development. From the previous Malthusian version to the fashionable endogenous financial development types, a variety of theories are constructed within the context of progress idea. during this ebook, those discussions are summarized in short, with an research of the quantitative relation among inhabitants and technological development utilizing country-based panel info in fresh periods.
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Extra info for An Empirical Analysis of Population and Technological Progress
However, is there actually an independent relationship between labor (capital) input and TFP in the economy? The OECD (2001) said that “conceptually, capital-labor productivity is not, in general, an accurate measure of technical change…” and MFP “reflects the combined effects of disembodied technical change, economies of scale, efﬁciency change, variations in capacity utilization and measurement errors” (p. 16). 2 Growth Accounting in OECD Countries 29 Examining this point, two possibilities can be considered.
Firstly, in Chap.
This was because of the decreased size of the labor force in the mid-1990s. 0 %, the third-highest value of the 18 countries. 3 Some Problems Related to Technological Progress Indicators (1) Productivity and TFP Based on current research, it can be said that the contribution of MFP or technological progress to economic growth, through the analysis of growth accounting, is large. However, there are other relevant indicators. Productivity also means the degree of efﬁciency of production; therefore, it may also be an indicator of technological progress.