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Human Capital and the Future of Transition Economies

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Author Info
Michael Spagat () (Department of Economics, Royal Holloway, University of London)

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Abstract

Transition economies have an initial condition of high human capital relative to GDP per capita. But they will not necessarily realize their latent high growth potential. In the model, at a good equilibrium a large number of children of well-educated parents take advantage of their family backgrounds and invest substantially in their own human capital. At a bad equilibrium, past educational achievements are wasted as children fail to build upon their parents' achievements. I argue that this sort of multiple equilibria provides a basis for distinguishing development economics from transition economics.

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Publisher Info
Paper provided by Department of Economics, Royal Holloway University of London in its series Royal Holloway, University of London: Discussion Papers in Economics with number 01/3.

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Length: 14 pages
Date of creation: Dec 2001
Date of revision: Dec 2001
Handle: RePEc:hol:holodi:0103

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Related research
Keywords: Transition; Development; Human Capital; Education; Growth; Multiple Equilibria;

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Find related papers by JEL classification:
P2 - Economic Systems - - Socialist Systems and Transition Economies
O1 - Economic Development, Technological Change, and Growth - - Economic Development
O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
I2 - Health, Education, and Welfare - - Education
D1 - Microeconomics - - Household Behavior
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Roland, Gérard & Verdier, Thierry, 2000. "Law Enforcement and Transition," CEPR Discussion Papers 2501, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  2. Münich, Daniel & Svejnar, Jan & Terrell, Katherine, 1999. "Returns to Human Capital Under the Communist Wage Grid and During the Transition to a Market Economy," CEPR Discussion Papers 2332, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  3. Fan, Chengze Simon & Overland, Jody & Spagat, Michael, 1999. "Human Capital, Growth, and Inequality in Russia," Journal of Comparative Economics, Elsevier, vol. 27(4), pages 618-643, December. [Downloadable!] (restricted)
  4. Campos, Nauro F & Dabusinskas, Aurelijus, 2002. "So Many Rocket Scientists, so Few Marketing Clerks: Occupational Mobility in Times of Rapid Technological Change," CEPR Discussion Papers 3531, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  5. Michael Spagat, 2002. "Human Capital, Growth and Inequality in Transition Economies," William Davidson Institute Working Papers Series 499, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
    Other versions:
  6. Viliam Druska & Byeong ju Jeong & Michal Kejak & Viatcheslav Vinogradov, 2002. "Assessing the Problem of Human Capital Mismatch in Transition Economies," William Davidson Institute Working Papers Series 467, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  7. John Micklewright, 1999. "Education, inequality and transition," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 7(2), pages 343-376, July. [Downloadable!] (restricted)
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  8. Alexeev, Michael & Kaganovich, Michael, 1998. "Returns to human capital under uncertain reform: Good guys finish last," Journal of Economic Behavior & Organization, Elsevier, vol. 37(1), pages 53-70, September. [Downloadable!] (restricted)
  9. UNICEF Innocenti Research Centre. MONEE project, 2001. "A Decade of Transition," Regional Monitoring Report remore01/15, UNICEF Innocenti Research Centre. [Downloadable!]
  10. Robert J. Barro & Paul Romer, 1993. "Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number barr93-1.
    Other versions:
    • Robert J. Barro & Paul M. Romer, 1991. "Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number barr91-1.
  11. Klara Z. Sabirianova, 2000. "The Great Human Capital Reallocation: An Empirical Analysis of Occupational Mobility in Transitional Russia," William Davidson Institute Working Papers Series 309, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  12. 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:
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Saso Polanec, 2004. "Convergence at last? Evidence from Transition Countries," LICOS Discussion Papers 14404, LICOS - Centre for Institutions and Economic Performance, K.U.Leuven. [Downloadable!]
    Other versions:
  2. Yelena Kalyuzhnova & Uma Kambhampati, 2007. "Education or employment-choices facing young people in Kazakhstan," Journal of International Development, John Wiley & Sons, Ltd., vol. 19(5), pages 607-626. [Downloadable!]
  3. Michael Spagat, 2002. "Human Capital, Growth and Inequality in Transition Economies," William Davidson Institute Working Papers Series 499, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
    Other versions:
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