Human Capital Composition, Growth and Development in an R&D Endogenous Growth Model
AbstractThe effect of human capital composition on growth and development has been somewhat neglected in economic literature. However, evidence has suggested the importance of engineering and technical skills to economic growth and international organizations had suggested their shortage in developed countries. Using a standard increasing variety endogenous growth model, we propose various measures of this composition. We show that human capital composition matters to growth and development, that the decentralized equilibrium leads to less investment in high-techs than the optimum and that the tendency to under-invest in R&D is expanded when human capital composition
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Bibliographic InfoPaper provided by Universidade Nova de Lisboa, Faculdade de Economia in its series FEUNL Working Paper Series with number wp434.
Length: 48 pages
Date of creation: 2003
Date of revision:
Other versions of this item:
- Tiago Neves Sequeira, 2003. "Human Capital Composition, Growth and Development in an R&D Endogenous Growth Model," Macroeconomics 0310015, EconWPA.
- O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
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