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Demographic Dynamics and Long ‐ RunDevelopment : Perspectives for the Secular Stagnation Debate *
| Content Provider | Semantic Scholar |
|---|---|
| Author | Cervellati, Matteo Sunde, Uwe Zimmermann, Klaus F. |
| Copyright Year | 2015 |
| Abstract | This paper takes a global perspective on the recent debate about secular stagnation. The analysis is motivated by the observation of the interplay between the economic and demographic transition that has occurred in the developed world over the past 150 years. To the extent that high growth rates in the past have partly been the consequence of changes during the economic and demographic transition, growth is likely to become more moderate as the transition is completed. At the same time, a similar transition is on its way in most developing countries, with profound consequences for the prospects for development in these countries, but also for global comparative development. The evidence presented here suggests that the long‐run development dynamics have potentially important implications for the prospects of human and physical capital accumulation, and the question of secular stagnation. JEL‐classification: C54, E10, J11, J 13, J18, N30, O10, O40 |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://www.imf.org/external/np/seminars/eng/2015/secularstag/pdf/Zimmermann.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
