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Recent theoretical contributions to the growth literature emphasize the role of human capital in the process of economic growth. Meanwhile, the empirical literature on the link between human capital and growth has changed course several times over the last decade. On balance, the evidence now...
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find that each additional year of average schooling attainment during this period raised GDP/adult in Japan by 20 percent … investment from physical capital to post-secondary schooling would be a cost-effective strategy to raise growth rates …
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This paper studies the dynamic relationship between distribution and endogenous growth in an overlapping generations model with accumulation of human and physical capital. It is shown how human capital can determine a relationship between per capita growth rates and inequality in the...
Persistent link: https://www.econbiz.de/10014144336
This paper tries to concentrate on the issue of convergence under neoclassical paradigm across Indian states through the passage of human capital education variables during the period between 1960 and 2005. The paper tries to address the issue in a broad landscape of cross section, pooled and...
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This chapter reviews the literature that tries to explain the disparity and variation of GDP per worker and GDP per capita across countries and across time. There are many potential explanations for the different patterns of development across countries, including differences in luck, raw...
Persistent link: https://www.econbiz.de/10014024240
This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data. The...
Persistent link: https://www.econbiz.de/10013138393