This paper introduces technological diffusion in the standard Uzawa-Lucas endogenous growth model. We show that the model can be solved analytically in its log-linear approximation. There are three negative eigenvalues, which makes the model's dynamics relatively rich.

This paper considers three natural extensions of the Uzawa-Lucas model. These extensions work with physical capital and one or two types of human capital. There are two or three sectors in which production takes place. We show that the steady-state growth rate of the economy can be analytically...

We evaluate the contribution of investment on education to Sri Lanka’s economic growth during the period 1959–2008. Physical capital, economic policy changes and the ethnic war are also evaluated due to their substantial importance. This study uses a framework encompassing both the...

This study addresses the macroeconomic effect of foreign aid on the factors of growth. Specifically, we examine the effects of foreign aid on capital investment (human capital, physical capital) in sub-Saharan Africa. Our methodological approach evaluates

This paper studies dynamic interdependence among physical capital, resource and human capital. We integrate the Solow one-sector growth, Uzawa-Lucas two-sector and some neoclassical growth models with renewable resource models. The economic system consists of the households, production sector,...

It is possible to achieve faster rates of social growth, greater developement, a better standard of living and narrow the gap between rich and poor countries by changing a government's economic policies so that they emphasize investments in the developement of human potential. An increase in...

The statement that a man lives in a society makes sense only if the society is seen as a consequence of the manifestation of individuals’ needs to satisfy personal interests in the context of social cooperation. From this point of view, education is developed in society, being the result of...

Capital (physical and human) doesn't flow from rich to poor countries. We show that in order to solve these twin paradoxes, assumption of externality of physical capital is better than assumption of externality of human capital.

Published by the World Bank (as “Adjusted Net Savings”) for around 160 countries, Genuine Savings (GS) presents the most respected but also the most debated indicator for “weak” sustainability. It originates from the so-called “Hartwick rule” for the re-investment of rents from the...