Nepal, July 20 -- Some concern has been apparent regarding Nepal's declining population growth rate. Is it the beginning of the end to Nepal's dreams of prosperity and high economic growth? A large number of Nepalese economists and other prominent scholars seem to be in some degree of agreement. However, depending on the economic growth model we pursue, the answer could be quite different.

Modeling economic growth

Various models have been propounded to depict the growth of economies at the national level. Population growth rate plays a significant role in all such major models that have been developed since the 1950s.

The bottom line of these models is that technological advancement is the "engine of economic growth," and it enables co...