Human Capital in Economic Growth: A Review of Theory and Empirics
AbstractHuman capital has been considered as a factor in the macroeconomic production function for the first time in the seminal work of Lucas (1988). Later on, it was also used as a regressor in the empirical analysis of Mankiw, Romer and Weil (1990). Over the past twenty years, economists have explored the relationship between economic growth and human capital in numerous theoretical and empirical studies. The current paper attempts to review and generalize the developments of the theoretical and empirical models during this period as well as to summarize
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Bibliographic InfoArticle provided by Bulgarian Academy of Sciences - Economic Research Institute in its journal Economic Thought.
Volume (Year): (2010)
Issue (Month): 7 ()
Find related papers by JEL classification:
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- N30 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - General, International, or Comparative
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O49 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other
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