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Human capital and technology in growth

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Author Info
Alberto Bucci ()

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Abstract

This paper studies the economic determinants of the inter-sectoral allocation of skills within an R&Dbased growth model with human capital accumulation and imperfect competition. Using an aggregateR&D technology displaying constant returns to scale in human capital, I find that steady-state growth is driven only by skills accumulation and is independent of scale effects. In the model imperfect competition has no growth effect, while influencing the allocation of human capital to the different economic activities. Contrary to general wisdom, the share of resources invested in R&D turns out not to be monotonically increasing in the equilibrium output growth rate.

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Publisher Info
Paper provided by Department of Economics University of Milan Italy in its series Departemental Working Papers with number 2001-18.

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Date of creation: 01 Jan 2001
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Handle: RePEc:mil:wpdepa:2001-18

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Related research
Keywords: Endogenous Growth; R&D; Human Capital;

Find related papers by JEL classification:
L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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  1. Stokey, Nancy L, 1988. "Learning by Doing and the Introduction of New Goods," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 701-17, August. [Downloadable!] (restricted)
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