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

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Author Info
Silvia London () (Universidad Nacional del Sur - Argentina - CONICET)
Juan Gabriel Brida () (School of Economics and Management, Free University of Bolzano Italy)
Wiston Adrian Risso () (University of Sienna, Italy.)

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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://economicsbulletin.vanderbilt.edu/2008/volume15/EB-08O10001A.pdf
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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.

Volume (Year): 15 (2008)
Issue (Month): 7 ()
Pages: 1-10
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Handle: RePEc:ebl:ecbull:v:15:y:2008:i:7:p:1-10

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Related research
Keywords: endogenous growth; human capital; education;

Find related papers by JEL classification:
O1 - Economic Development, Technological Change, and Growth - - Economic Development
C0 - Mathematical and Quantitative Methods - - General

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  2. Benhabib, Jess & Spiegel, Mark M., 2005. "Human Capital and Technology Diffusion," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 13, pages 935-966 Elsevier. [Downloadable!] (restricted)
    Other versions:
  3. Azariadis, Costas & Drazen, Allan, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, MIT Press, vol. 105(2), pages 501-26, May. [Downloadable!] (restricted)
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    Other versions:
  5. Durlauf, Steven N. & Quah, Danny T., 1999. "The new empirics of economic growth," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 4, pages 235-308 Elsevier. [Downloadable!] (restricted)
    Other versions:
  6. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May. [Downloadable!] (restricted)
    Other versions:
  7. Azariadis, Costas & Stachurski, John, 2005. "Poverty Traps," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 5 Elsevier. [Downloadable!] (restricted)
    Other versions:
  8. Richard R. Nelson & Edmond S. Phelps, 1965. "Investment in Humans, Technological Diffusion and Economic Growth," Cowles Foundation Discussion Papers 189, Cowles Foundation, Yale University. [Downloadable!]
  9. McCallum, Bennett T., 1984. "On low-frequency estimates of long-run relationships in macroeconomics," Journal of Monetary Economics, Elsevier, vol. 14(1), pages 3-14, July. [Downloadable!] (restricted)
    Other versions:
  10. Alan B. Krueger & Mikael Lindahl, 2001. "Education for Growth: Why and for Whom?," Journal of Economic Literature, American Economic Association, vol. 39(4), pages 1101-1136, December. [Downloadable!] (restricted)
    Other versions:
  11. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254. [Downloadable!] (restricted)
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