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A General Equilibrium Skill Acquisitions Model Of Development For Lesotho

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  • Mamit Deme

    (Middle Tennessee State University)

  • David Franck

    ()
    (Francis Marion University)

  • Nadeem Naqvi

    (Middle Tennessee State University)

Abstract

Dual economy, large unemployment, a fixed number of skilled workers, perfect capital mobility, migrant labor force working in South African gold mines, and a cycle of poverty characterize Lesotho. This paper develops a general equilibrium model for Lesotho specifying these absorbing economic characteristics. We are particularly interested in constructing a rising step skill acquisition function, which shows that small infusions of human-capital investment would not pull the economy out of its poverty trap, but a large infusion would.

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Bibliographic Info

Article provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.

Volume (Year): 30 (2005)
Issue (Month): 1 (June)
Pages: 15-29

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Handle: RePEc:jed:journl:v:30:y:2005:i:1:p:15-29

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Related research

Keywords: Lesotho; Skill Acquisition; Human Capital; Economic Development; General Equilibrium;

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References

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  1. Vandana Chandra & Nadeem Naqvi, 1997. "Protection and the Shadow Price of Foreign Exchange with Increasing Returns and International Capital Mobility," Canadian Journal of Economics, Canadian Economics Association, vol. 30(4), pages 959-67, November.
  2. Neary, J Peter & Ruane, Frances, 1985. "International Capital Mobility, Shadow Prices and the Cost of Protection," CEPR Discussion Papers 58, C.E.P.R. Discussion Papers.
  3. Upadhyay, Mukti P, 1994. "Accumulation of Human Capital in LDCs in the Presence of Unemployment," Economica, London School of Economics and Political Science, vol. 61(243), pages 355-78, August.
  4. Deaton, A. & Case, A., 1988. "Analysis Of Household Expenditures," Papers 28, World Bank - Living Standards Measurement.
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Cited by:
  1. Bandopadhyay, Titas Kumar, 2006. "Skill acquisition and economic development — some comments," MPRA Paper 1759, University Library of Munich, Germany.
  2. Bobkova, Nina, 2010. "General equilibrium models on skill acquisition and economic development: some comments," MPRA Paper 26912, University Library of Munich, Germany.

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