We study innovation and the resulting Schumpeterian economic growth that this innovation gives rise to in a model with N heterogeneous regions. For each region i where i=1,...,N, our analysis leads to five findings. First, we define the balanced growth path (BGP) allocations and the equilibrium...

We propose a novel framework to analyse the macroeconomic impact of noncommunicable diseases. We incorporate measures of disease prevalence into a human capital augmented production function, which enables us to determine the economic costs of chronic health conditions in terms of foregone gross...

In recent years international student mobility increased. While net hosting countries are in a better position to win highly educated students for their labour force, they face the additional cost of providing the education. In much of continental Europe these costs are not levied on students,...

This paper examines the impact of education on economic growth in Greece over the period 1981 – 2009 by applying the model with two sectors introduced by Lucas (1988). The findings of the empirical analysis reveal that there is no long-run relation between educational stock and output. In the...

In recent years international student mobility increased. While net hosting countries are in a better position to win highly educated students for their labour force, they face the additional cost of providing the education. In much of continental Europe these costs are not levied on students,...

The paper examines the role of education in economic growth from both a theoretical and historic perspective, addresses why education has been the limiting factor determining growth historically, provides estimates of the quantitative importance of the direct and indirect effects of education on...

This paper studies the income effect of three specific policy variables: border openness to migration, accumulation of human capital, represented by the education level of the adult population, and the strength of legal institutions, captured by the confidence of a country's citizens to abide by...

China, like other middle income countries, is facing the challenges of the next stage of development as its leaders seek to guide the nation into becoming a high income country. In this article we explore one of the major challenges that China is facing in the transition from middle to high...

Origins of the economic growth literature based on the Solow and Lucas models attribute human capital accumulation to long run balanced growth path of an economy. This work has the objective of empirically testing the dynamics of human capital accumulation for the case of the Egyptian economy...