{"id":9217,"date":"2022-07-27T06:55:21","date_gmt":"2022-07-27T06:55:21","guid":{"rendered":"https:\/\/depocen.org\/publications\/toward-a-unied-growth-theory\/"},"modified":"2022-07-27T06:55:21","modified_gmt":"2022-07-27T06:55:21","slug":"toward-a-unied-growth-theory","status":"publish","type":"publications","link":"https:\/\/depocen.org\/en\/publications\/toward-a-unied-growth-theory\/","title":{"rendered":"Toward a Uni\u001ced Growth Theory"},"content":{"rendered":"<p>This paper developes a uni\u001ced growth model capturing issues of endogenous economic<br \/>\ngrowth, fertility, infant mortality, technological progress, education and environmental qual-<br \/>\nity to interpret the evolution of history from Malthusian stagnation regime, through the<br \/>\ndemographic transition to modern growth. The production structure in this paper allows to<br \/>\nexplain the so-called Environmental Kurznet Curve theoretically. The model suggests that<br \/>\nin the very early stage of development characterized by small population, low education and<br \/>\nlow technological level, the economy is trapped in a low stable steady state with very low<br \/>\ngrowth rate of technological progress, zero-education and hence low suriving probability of<br \/>\ninfant which makes the population growth very small. In this stagnation the technologi-<br \/>\ncal progress makes the pollution more polluted. In the period of demographic transition,<br \/>\ncorresponding to the industrial revolution time in Western Europe when there is a sharp<br \/>\nincrease in technological level, the infant mortality rate increases due to the pollution and<br \/>\nhence the fertility also increases due to maximizing utility behavior of households. The<br \/>\ninfant mortality and fertility rates start decreasing when the level of technology exceeds<br \/>\na threshold (normalized by 1) in which technology has positive effect on environmental<br \/>\nquality. The growth rate of technological progress plays an crucial role in demographic<br \/>\ntransition. Investment in education increases along with the increase in growth of tech-<br \/>\nnological progress because education get more return via supplying human capital in the<br \/>\nfuture. The more investment in education for children, the less number of children the<br \/>\nhouselds raise because of the budget contraints of household. This trade-off along with the<br \/>\ngrowth of technological progress make the fertility rate decreasing, then the economy enters<br \/>\na Modern Growth regime with reduced population and sustained growth rate of income.<\/p>\n","protected":false},"featured_media":0,"template":"","cate_publications":[],"author_publications":[1782,1783],"topic_publications":[],"class_list":["post-9217","publications","type-publications","status-publish","hentry","author_publications-nguyen-thang-dao","author_publications-nguyen-thang-dao-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/publications\/9217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/publications"}],"about":[{"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/types\/publications"}],"wp:attachment":[{"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/media?parent=9217"}],"wp:term":[{"taxonomy":"cate_publications","embeddable":true,"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/cate_publications?post=9217"},{"taxonomy":"author_publications","embeddable":true,"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/author_publications?post=9217"},{"taxonomy":"topic_publications","embeddable":true,"href":"https:\/\/depocen.org\/en\/wp-json\/wp\/v2\/topic_publications?post=9217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}