Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Egg-Timer: Climate Change and Economic Development Location: D-111 Session Chair: Francesco Pietro Colelli, Euro-Mediterranean Center on Climate Change (CMCC) | |
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Resource Rents, Fertility Choices, and Economic Growth: An Overlapping Generations Approach Delhi School of Economics, India While the natural resource curse has been extensively studied empirically, the theoretical mechanisms underlying this phenomenon, particularly the role of demographic behaviour through fertility decisions, remain underexplored. We develop an overlapping generations model where final output depends on hu- man capital, physical capital, and exhaustible natural resources to examine how resource related income distribution affects long-term economic growth. Our key finding demonstrates that resource related transfers to young generations—commonly proposed as a solution—may paradoxically intensify the resource curse by encouraging investment in child quantity rather than quality. However, when governments instead direct royalty income from natural resources towards public provision of human capital, it improves the growth of human capital and can mitigate the resource curse. By analyzing the long-run per capita growth, we study the positive impact of public provision of human capital, with numerical simulations using standard parameter values we demonstrate the quantitative relevance of our findings. Our analysis shows that resource related transfers lead to resource curse, while using wealth from royalty tax for public provision of human capital generates positive effects on growth. These findings provide crucial policy insights for resource-rich developing nations, suggesting that the optimal usage of resource related income determines whether natural resource wealth becomes a curse or a blessing for long-term prosperity. | |