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Existing studies identify two major underlying mechanisms behind East and Southeast Asia’s miraculous economic performance in the past 5 decades: accumulation and technological catching-up. This study investigates empirically the relative importance of these two mechanisms in Asian development...
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issues connected with growth theory considered from different theoretical perspectives. Its uniqueness is derived from the … classical tradition, modern theory, and heterodox models; problems of policy; dynamics and business cycles; and the role of … scholars of the theory of economic growth, the theory of distribution, macroeconomics, classical and Keynesian economics, as …
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This paper examines how the accumulation of human capital determines both a country's growth rate and income inequality. In contrast to previous work, we do not rely on credit market imperfections or political economy arguments. The insight of this model is that inequality is determined by the...
Persistent link: https://www.econbiz.de/10013106806
To examine how human capital accumulation influences both economic growth and income inequality, we carefully endogenize the demand and supply of skills. We explicitly introduce the costs and externalities in education, and examine how both relate to learning-by-doing and R&D intensity.1 In...
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Our paper focuses on the dynamics of development of human capital in economic development cycles (as described, for example, in the works of Becker or Barro). In the course of this research, we created an econometric model based on the modified Mankiw-Romer-Weil equation of the Cobb-Douglas...
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