New technology, human capital and growth for developing countries
AbstractWe 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 in the process 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, additionally to investment activities in the previous stage, to invest the training and education of high skilled labor.
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Bibliographic InfoPaper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number b06065.
Length: 17 pages
Date of creation: Oct 2006
Date of revision:
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Optimal growth model; new technology capital; human capital; developing country.;
Other versions of this item:
- Cuong Le Van & Tu-Anh Nguyen & Manh-Hung Nguyen & Thai Bao Luong, 2007. "New Technology, Human Capital and Growth for Developing Countries," Working Papers 01, Development and Policies Research Center (DEPOCEN), Vietnam, revised Jan 2009.
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-11-25 (All new papers)
- NEP-EDU-2006-11-25 (Education)
- NEP-HRM-2006-11-25 (Human Capital & Human Resource Management)
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