1

Table of Contents


Introduction ....................................................................................................... 2
Importance of Human Resource: Population .................................................... 2
Data Collection .................................................................................................. 3
Results ............................................................................................................... 3
Other important factors contributing towards the growth of an Economy
................................................................................ Error! Bookmark not defined.
Limitations of this Paper ........................................ Error! Bookmark not defined.
Conclusion .............................................................. Error! Bookmark not defined.
References .......................................................................................................... 5
Appendix ........................................................................................................... 6




2
Introduction
The growth in an economy is measured by the number of goods and services produced in the
economy at a particular time. This paper utilizes the data of the various economies and tries to
identify the relation between the real GDP growth and the population of a respective country.
The total production is allocated to each heads of the population to get an idea of the individual
share in the total production. This is termed as Real GDP (Gross Domestic Product) per capita
and is relevant to indicate pace of the economic growth per head. The GDP is used as a medium
to measure the economic efficiency of a country. Thus, a country with higher GDP is termed as
economically developed country and the country with lesser GDP is termed as economically
developing country or underdeveloped economy. The developed economies are marked by
better infrastructure, better connectivity and better standard of living in comparison to the under
developed or developing economies.
It can be intuitively said from the above mentioned paragraph that a country with higher
population is expected to have lower GDP for the simple reason that it has to serve a lot more
single individuals in contrast to an economy that has a relatively lower population. The purpose
of this paper is to identify a relation between real GDP and the population of a country.
However it should be considered that the real GDP is not a direct measure of the sustainable
development as there are many other factors involved in order to judge the relevance of a
countrys economic performance. However it serves as an economic indicator and a measure to
notice various structural and developmental aspects of an economy (Baldwin 1989).
Importance of Human Resource: Population
Population of a country is their real assets. The human mind is capable of producing immense
and extra ordinary inventions for the betterment of the human civilization. It has been evident
from the findings of the past and continues till date, especially in today technological driven
highly globalised world. Thus, it has been argued by political parties of many economies that
they need to produce more minds so that it directly contributes towards the human civilization.
However, on the contrary, one must be mindful of the fact that more heads requires adequate
facilities so that they get a proper understanding of the human civilization. Many people live a
pity life as they are economically hindered. The worst examples include living under the poverty

3
line and not getting the basic needs and amenities such as food, shelter and clothing. Thus, it is
important for the governing officials of an economy to be pro active in their respective approach
and set a limit as to how many people can they appropriately so that they happen to enjoy a
decent life. The case for employment and job opportunities also becomes a cause of concern for
such countries as the domestic production supply excessively exceeds the demand (Roland
1994).

Data Collection
The data for the population of developed and under developed economies are collected using
secondary data resources from the Internet and the published journal articles directly. The Figure
1 and the Figure 2 shows a scatter diagram of the data to comment upon the relationship and the
hypothesis of countries that showed a substantial decline in population growth are richer now
than countries where population growth is still high. The horizontal axis in the figures provides
the population numbers and the vertical axis provides the index for the real GDP growth for the
respective mentioned economies (Roland 1994).

Results
With this notion, a closely related argument is that if the increase in economic activities of
purchases of goods and services increases the economic efficiency of an individual person, then,
international trade should be free of government intervention and a free market structure should
be allowed to cater to the needs of all individuals across the globe. The various bureaucratic
political structures of different countries has somewhat narrowed this argument and that trade
does occur with a set of regulations and a comprehensive check on the activities of trade between
international boundaries (Roland 1994).



4

Source: (Bhagwati 1989).
Figure 1 (Developing Economies)
This paper utilizes the data of the various economies and tries to identify the relation between the
real GDP growth and the population of a respective country. The above scatter diagram shows
few of the developing economies like Chad, Albania, Cape Verde, Benin, Antigua and Barbuda
etc which had relatively lower GDP rates in comparison to the countries which were
economically well off in the period after the World War II. It was noticed that there is a direct
Argentina and Australia in Figure 2 are examples of such cases, Argentina had relatively higher
population growth rate and there was no corresponding reduction in the growth rates of the
economy. Such economies today are able to offer their citizens with better living standards in
comparison and in relation to the developing economies the benefits to developed economies
citizens include examples such as self service technologies to ease their day to day affairs and
better infrastructure and connectivity. Better and improved mediums of communication, speedy
process for the simple reason that a lesser number of citizens and the population is to be served
and the population is not highly scatter as is the case with the developing and highly developed
economies.
0
0.5
1
1.5
2
2.5
3
3.5
0 2,000 4,000 6,000 8,000 10,000
Albania
Antigua and Barbuda
Bahamas
Belize
Cape Verde
Benin
Grenada
Chad

5

Source: (Bhagwati 1989)
Figure 2 (Developed economies)
The close study of the above data shows that there is a clear relationship between the economic
factors and i
References
Baldwin, RE 1989 The political economy of trade policyJournal of Economic Perspectives ,
University of Wisconsin, Madison, vol. 3, no. 4, pp. 11935.
Bhagwati, J 1989 Is free trade pass after all?, in Weltwirtschaftliches Archiv, no. 125 (1989),
pp. 1744.
Lee, J-W & Swagel, P 1995 Trade barriers and trade flows across countries and industries The
Review of Economics and Statistics , vol. 79, no. 3, pp. 37282.
Roland, G 1994 On the Speed and Sequencing of Privatization and Restructuring Economic
Journal, Blackwell, Oxford and Cambridge, Mass, pp. 115868.
0
5
10
15
20
25
30
0 500000 1000000 1500000
G
D
P

Population
Argentina
Austria
Australia
Canada
Brazil
China
Germany

6

Appendix

Country or territory 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989
Albania 4,929 5,698 6,221 6,538 6,919 7,022 7,579 7,736 7,890 8,991
Antigua and Barbuda 194 220 231 254 290 322 359 402 440 488
Bahamas 2,078 2,207 2,489 2,763 2,936 3,149 3,302 3,524 3,727 3,957
Bhutan 192 238 261 302 327 351 401 528 573 638
Belize 217 238 233 257 297 302 331 416 476 571
Cape Verde 150 178 194 221 238 267 280 301 330 362
Comoros 195 225 248 266 288 302 315 330 350 352
Bangladesh 27,268 30,741 33,662 36,606 39,568 42,292 44,950 47,610 50,422 54,575
Bahrain 3,175 3,568 4,029 4,481 4,844 4,944 5,078 5,161 5,656 6,129
Comoros 195 225 248 266 288 302 315 330 350 352
Barbados 1,903 2,042 2,061 2,153 2,314 2,411 2,589 2,734 2,927 3,147
Belize 217 238 233 257 297 302 331 416 476 571
Burundi 830 1,019 1,069 1,153 1,198 1,380 1,456 1,581 1,718 1,806
Dominica 147 171 186 197 216 226 247 274 307 318
Benin 2,215 2,470 2,664 2,714 2,828 3,039 3,192 3,216 3,441 3,469
Country or
territory
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989
Argentina 135629 139819 143677 154935 163971 157192 172147 181623 184186 177748
Canada 271868 307764 317202 338707 371865 401435 420241 450833 489515 521306
Australia 147096 167568 177772 183830 202971 221068 230724 247859 266705 288841
Austria 79182 86516 93545 99972 104071 109627 114673 119984 125298 134895
Brazil 443542 463766 494988 497067 543112 603761 663664 707519 733756 785829
Belgium 96198 105367 112444 117355 124323 130452 135807 143066 154736 166389
China 247792 285108 330027 380474 454771 531790 591377 679134 781840 844628
Germany 756020 827785 871358 919899 981431 1033305 1081676 1129429 1211865 1306837

Population

Argentina 27.95 28.63 29.54 30.42 31.63 31.78 31.89 31.95 32.03 32.53
Canada 24.47 24.85 25.16 25.59 26.12 26.89 26.98 27.32 27.51 27..63
Australia 14.72 14.96 15.03 15.63 15.99 16.54 16.99 17.08 17.13 17.17
Austria 7.55 7.59 7.59 7.61 7.63 7.64 7.65 7.66 7.67 7.68
Brazil 118.56 121.32 125.64 128.63 130.09 130.87 131.52 134.32 140.78 146.59
Belgium 9.86 9.87 9.88 9.90 9.91 9.92 9.95 9.96 9.97 9.98
China 987.05 988.05 1015 1028 1036 1064 1078 1101 1112 1143
Germany 76.78 76.97 77.13 77.54 77.98 78.15 78.23 78.45 78.65 78.89

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Grenada 178 198 216 228 249 273 306 345 365 401
Bolivia 9,644 10,579 10,783 10,756 11,138 11,282 11,235 11,846 12,609 13,581
Chad 1,768 1,724 1,928 2,318 2,531 2,814 3,048 3,251 3,616 3,826
Population

Albania 2.67 2.71 2.72 2.75 2.78 2.79 2.82 2.89 2.9 3.2
Antigua and Barbuda 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06
Bahamas 0.21 0.22 0.23 0.24 0.24 0.24 0.23 0.23 0.24 0.25
Bhutan 0.42 0.43 0.45 0.47 0.49 0.50 0.51 0.53 0.54 0.55
Belize 0.15 0.16 0.17 0.17 0.17 0.18 0.18 0.18 0.18 0.19
Cape Verde 0.26 0.27 0.28 0.29 0.3 0.31 0.32 0.33 0.34 0.35
Comoros 0.35 0.36 0.37 0.38 0.39 0.40 0.41 0.42 0.45 0.46
Bangladesh 90.4 93.6 94.5 96.7 98.3 100.1 108.65 110.56 113.23 115.61
Bahrain 0.35 0.36 0.37 0.38 0.39 0.40 0.41 0.45 0.47 0.48
Comoros 0.35 0.36 0.37 0.38 0.39 0.40 0.41 0.42 0.44 0.46
Barbados 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25
Belize 0.15 0.15 0.16 0.16 0.17 0.17 0.18 0.18 0.19 0.19
Burundi 4.09 4.29 4.49 4.59 4.69 4.73 4.76 4.96 5.26 5.46
Dominica 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07
Benin 3.9 4.16 4.36 4.57 4.63 4.68 4.71 4.83 5.03 5.33
Grenada 0.09 0.09 0.09 0.09 0.09 0.09 0.1 0.1 0.1 0.1
Bolivia 5 5.3 5.51 5.68 5.73 5.83 5.9 5.92 6.32 6.51
Chad 4.41 4.57 4.79 4.91 4.95 5.07 5.13 5.28 5.43 5.65


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