Cuong Le Van (Centre d'Economie de la Sorbonne, Universite Paris-1, France) Manh-Hung Nguyen (Centre d'Economie de la Sorbonne, Universite Paris-1, France) Thai Bao Luong (Centre d'Economie de la Sorbonne, Universite Paris-1, France) Tu-Anh Nguyen (Centre d'Economie de la Sorbonne, Universite Paris-1, France)
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We consider a developing country with three sectors in economy: consumption goods, new technology, and education. Productivity of the consumption goods sector depends on new technology and skilled labor used for production of the new technology. We show that there might be three stages of economic growth. In the first stage the country concentrates on production of consumption goods; in the second stage it requires the country to import both physical capital to produce consumption goods and new technology capital to produce new technology; and finally the last stage is one where the country needs to import new technology capital and invest in the training and education of high skilled labor in the same time.
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Paper provided by Development and Policies Research Center (DEPOCEN), Vietnam in its series Working Papers with number
01.
Find related papers by JEL classification: D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
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