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Economic growth, population model, Kremer's Model
Mathematics | Physical Sciences and Mathematics | Science and Mathematics Education
For thousands of years the population of Earth increased slowly, while per capita income remained essentially constant, at subsistence level. At the beginning of the industrial revolution around 1800, population began to increase very rapidly and income started to climb. Then in the second half of the twentieth century as a demographic transition began, the birth and death rates, as well as the world population growth rate, began to decline. The reasons for these transitions are hotly debated with no expert consensus yet emerging. It's the problem of economic growth. In this document we investigate a mathematical model of economic growth proposed by Michael Kremer in 1993.
"Kremer's Model Relating Population Growth to Changes in Income and Technology,"
Vol. 12, Article 9.
Available at: https://scholarship.claremont.edu/codee/vol12/iss1/9
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