A growth model with endogenous innovation and accumulation of high-tech and low-tech human capital is developed. The model accounts for a recently established fact about human capital composition, which stated that the richest countries are investing proportionally less than middle income...

We use a set of established growth models, which simultaneously include human capital and Ramp;D, to show that the effect of mortality rate in human capital accumulation is quantitatively more important than the effect of perfectly guaranteed patents on research. First, we show that the effect...

Research and Development (Ramp;D) endogenous growth models predict and most evidence show that investment in Ramp;D increase with economic development. We consider the type of human capital mainly used in research labs and show that the richest countries are investing proportionally less than...

The effect of human capital composition on growth and development has been somewhat neglected in economic literature. However, evidence has suggested the importance of engineering and technical skills to economic growth and international organizations had suggested their shortage in developed...