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Publication Date

2-13-2019

Keywords

Economic growth, population model, Kremer's Model

Disciplines

Mathematics | Physical Sciences and Mathematics | Science and Mathematics Education

Abstract

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.

DOI

10.5642/codee.201912.01.09

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial 4.0 License

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