Up-or-out contracts can improve human capital investment incentives but lead to suboptimal worker-employer separation. When job matching uncertainty is large relative to the return to human capital investment, spot contracts Pareto dominate up-or-out contracts. Otherwise, up-or-out contracts are...

Intangible knowledge capital (IKC) - technology produced by workers but not embodied in them - can offset the "middle income trap" as China exhausts the benefits of international technology transfer. IKC is productivity-enhancing among Chinese enterprises - more so in domestically owned than in...

We examine the mechanism by which human capital affects economic growth and convergence, using provincial level panel data from China. We specify alternative measures of human capital and apply them to an enhanced growth model which we estimate parametrically, nonparametrically, and with a...