A General Equilibrium Skill Acquisitions Model Of Development For Lesotho
AbstractDual 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 InfoArticle provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.
Volume (Year): 30 (2005)
Issue (Month): 1 (June)
Lesotho; Skill Acquisition; Human Capital; Economic Development; General Equilibrium;
Find related papers by JEL classification:
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
- F2 - International Economics - - International Factor Movements and International Business
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- O2 - Economic Development, Technological Change, and Growth - - Development Planning and Policy
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