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Education And Technology Adoption In A Small Open Economy: Theory And Evidence

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Author Info
KUMAR, KRISHNA B.

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Abstract

We develop a simple open-economy growth model in which productivity growth and education influence each other, and use it to empirically address issues of causality between them. Technology adoption fostered by human capital and economic openness determines productivity growth; the framework allows us to evaluate whether the effects of these two variables on growth documented in previous cross-country regression studies carry over to a simultaneous system closely allied to a model. This model implies that an increase in openness will stimulate technical change but, for empirically plausible values of the intertemporal elasticity of substitution, it will cause a decrease in the level of education. The empirical analysis specifies productivity growth and human capital as endogenous variables and finds evidence broadly consistent with the theory openness and education stimulate productivity growth, and there is a negative effect of this growth on human capital accumulation.

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Publisher Info
Article provided by Cambridge University Press in its journal Macroeconomic Dynamics.

Volume (Year): 7 (2003)
Issue (Month): 04 (September)
Pages: 586-617
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Handle: RePEc:cup:macdyn:v:7:y:2003:i:04:p:586-617_02

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  1. Tiago Sequeira & Elsa Martins, 2008. "Education public financing and economic growth: an endogenous growth model versus evidence," Empirical Economics, Springer, vol. 35(2), pages 361-377, September. [Downloadable!] (restricted)
  2. Nadja Wirz, 2008. "Assessing the Role of Technology Adoption in China's Growth Performance," EPRU Working Paper Series 2008-06, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics. [Downloadable!]
  3. Tiago Neves Sequeira & Ana Reis, 2006. "Human Capital Composition, R&D and the Increasing Role of Services," Topics in Macroeconomics, Berkeley Electronic Press, vol. 6(1), pages 1343-1343. [Downloadable!] (restricted)
    Other versions:
  4. Cuong Le Van & Manh-Hung Nguyen & Thai Bao Luong, 2006. "New technology, Human Capital and Growth for Developing Countries," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00118979_v1, HAL. [Downloadable!]
    Other versions:
  5. Cuong Le Van & Manh-Hung Nguyen & Thai Bao Luong & Tu Anh Nguyen, 2008. "New Technology, Human Capital and Growth for European Transitional Economies," THEMA Working Papers 2008-07, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise. [Downloadable!]
  6. Christiane Schuppert & Nadja Wirz, 2008. "Public Education and Growth in Developing Countries," EPRU Working Paper Series 08-04, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics. [Downloadable!]
  7. Elizabeth M. Caucutt & Krishna B. Kumar, 2003. "Education Policies to Revive a Stagnant Economy: The Case of Sub- Saharan Africa," Development and Comp Systems 0304002, EconWPA. [Downloadable!]
  8. Ayse Imrohoroglu & Krishna B. Kumar, 2003. "Entry Costs, Intermediation, and Capital Flows," Macroeconomics 0304001, EconWPA. [Downloadable!]
  9. Ayse Imrohoroglu & Krishna B. Kumar, 2004. "Intermediation Costs and Capital Flows," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(3), pages 586-612, July. [Downloadable!] (restricted)
  10. Elizabeth M. Caucutt & Selahattin Imrohoroglu & Krishna B. Kumar, 2003. "Growth and Welfare Analysis of Tax Progressivity in a Heterogeneous-Agent Model," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(3), pages 546-577, July. [Downloadable!] (restricted)
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