Abstract
Population growth has an important impact on the economic performance of countries. However, there is no consensus on the direction of the impact in question. Therefore, the relationship between population growth and economic growth is still in debate in the literature. In this context, the aim of this study is to empirically examine whether there is a relationship between population growth and economic growth in Singapore using annual data for the period of 1970-2020. In order to achieve this goal, first of all, ADF and PP unit root tests were performed. Then, Toda-Yamamoto Causality Test was applied to investigate the causal relationship between the variables. According to the empirical findings of the study, there is a unidirectional Granger causality relationship from population growth to economic growth.
Highlights
Economic growth which can be expressed as an increase in the production volume of an economy from one period to another can be measured as the percentage of change from the country’s gross domestic product from year to year (Ozel, 2012: 64; Biede, 2015, 25)
The main purpose of this study is to examine the relationship between population growth and economic growth in Singapore with the use of Toda-Yamamoto causality test
It can be said that ensuring economic growth and development and improving living conditions are among the primary goals of each country
Summary
Economic growth which can be expressed as an increase in the production volume of an economy from one period to another can be measured as the percentage of change from the country’s gross domestic product from year to year (Ozel, 2012: 64; Biede, 2015, 25). There are some factors that determine population growth. The increase in the fertility rate, and the decrease in the death rate are important factors that determine the population growth. Migration plays an important role in determining population growth (Basel, 2011: 524). The birth rate represents the share of the population born each year. The death rate shows the share of the number of deaths in the population each year. Population policies are the decisions of governments and affect the quantity, quality and distribution of the population. The first is the policy that aims reducing the population growth rate. The third is the policy which aims to improve the quality and quantity of the population (Dogan, 2011: 295-296)
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