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Human Capital Distribution, Technological Progress, and Economic Growth

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  • Galor, Oded
  • Tsiddon, Daniel

Abstract

This paper analyses the interaction between the distribution of human capital, technological progress, and economic growth. It demonstrates the significant role of the distribution of human capital in the process of economic development. The evolutionary pattern of the human capital distribution, the income distribution and economic growth are determined by the interplay between a local home environment externality and a global technological externality. In periods during which the home environment externality is the dominating factor, the distribution of human capital becomes polarized, whereas in periods during which the global technological externality dominates, convergence ultimately takes place. The study suggests that a poor uneducated economy which values equity as well as prosperity may confront a trade-off between equity in the short run and equity and prosperity in the long run. An economy that prematurely implements a policy designed to enhance equality may be trapped at a low output equilibrium.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 971.

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Date of creation: Jun 1994
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Handle: RePEc:cpr:ceprdp:971

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Related research

Keywords: Growth; Human Capital; Income Distribution; Kuznets Hypothesis; Overlapping-Generations;

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Cited by:
  1. Mountford, Andrew, 1997. "Can a brain drain be good for growth in the source economy?," Journal of Development Economics, Elsevier, vol. 53(2), pages 287-303, August.
  2. Cetorelli, Nicola, 2002. "Could Prometheus be bound again? A contribution to the convergence controversy," Journal of Economic Dynamics and Control, Elsevier, vol. 27(1), pages 29-50, November.
  3. Michael Groemling, 2002. "Why does redistribution not shrink when equality is high?," Intereconomics: Review of European Economic Policy, Springer, vol. 37(4), pages 204-211, July.
  4. Adelaide Duarte & Marta Simões, 2010. "Regional growth in Portugal: assessing the contribution of earnings and education inequality," GEMF Working Papers 2010-11, GEMF - Faculdade de Economia, Universidade de Coimbra.
  5. Murat F. Iyigun, 1995. "Economic development and intergenerational economic mobility," International Finance Discussion Papers 524, Board of Governors of the Federal Reserve System (U.S.).
  6. Sanghamitra Bandyopadhyay, 2011. "Rich States, Poor States: Convergence And Polarisation In India," Scottish Journal of Political Economy, Scottish Economic Society, vol. 58(3), pages 414-436, 07.
  7. Kanbur, Ravi, 2000. "Income distribution and development," Handbook of Income Distribution, in: A.B. Atkinson & F. Bourguignon (ed.), Handbook of Income Distribution, edition 1, volume 1, chapter 13, pages 791-841 Elsevier.
  8. Klaus Waelde, 1996. "Lifetime learning, biased technological change and the evolution of wages in the U.S. 1960 - 1990," Labor and Demography 9601001, EconWPA.

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