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Human capital and innovation: a model of endogenous growth with a “skill-loss effect”

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  • Silvia London

    ()
    (Universidad Nacional del Sur - Argentina - CONICET)

  • Wiston Adrian Risso

    ()
    (University of Sienna, Italy.)

  • Juan Gabriel Brida

    ()
    (School of Economics and Management, Free University of Bolzano Italy)

Abstract

The present paper argues that, in line with Nelson-Phelps (1966), there exist important complementaries among educational attainment, R and D activities (and their derived innovations) and economic growth, although subject to a “skill-loss effect” ( -effect), due to the presence of workers who have to perform jobs that require other capacities than the ones they have. Taking Redding's (1996) formal framework, the main result of our model suggests that the more distorted the labour market is, the stronger must be the investment in R and D necessary to at ain a positive economic growth rate.

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File URL: http://www.accessecon.com/pubs/EB/2008/Volume15/EB-08O10001A.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 15 (2008)
Issue (Month): 7 ()
Pages: 1-10

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Handle: RePEc:ebl:ecbull:eb-08o10001

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Keywords: endogenous growth;

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  1. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
  2. McCallum, Bennett T., 1984. "On low-frequency estimates of long-run relationships in macroeconomics," Journal of Monetary Economics, Elsevier, Elsevier, vol. 14(1), pages 3-14, July.
  3. Phillips, P.C.B., 1986. "Understanding spurious regressions in econometrics," Journal of Econometrics, Elsevier, Elsevier, vol. 33(3), pages 311-340, December.
  4. Alan Krueger & Mikael Lindahl, 2000. "Education for Growth: Why and For Whom?," Working Papers 808, Princeton University, Department of Economics, Industrial Relations Section..
  5. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 12(2-3), pages 231-254.
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Cited by:
  1. Dalila NICET – CHENAF (GREThA UMR CNRS 5113) & Eric ROUGIER (GREThA UMR CNRS 5113), 2009. "Human capital and structural change: how do they interact with each other in growth?," Cahiers du GREThA, Groupe de Recherche en Economie Théorique et Appliquée 2009-14, Groupe de Recherche en Economie Théorique et Appliquée.

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