IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

Missing Markets for Human Capital and Differences in Growth

Listed author(s):
  • Fernando Perera Tallo

    (CAERP and Universidad de La Laguna)

There are some empirical facts that growth models usually cannot explain: i) the di.erences in consumption growth rates across countries when international capital markets are considered, ii) the low growth and low levels of education in developing countries where the return on education is very high. This paper introduces a generational structure that implies that the return on human capital is higher than the return on physical capital and that consumption growth rates vary across countries when international capital markets are included. The human capital technology of the paper implies that poor countries grow more slowly and invest a smaller share of income on education, in spite of an extraordinarily high return on education and the existence of international capital markets.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Paper provided by Centro de Altisimos Estudios Rios Perez (CAERP) in its series Centro de Alti­simos Estudios Ri­os Pe©rez(CAERP) with number 9.

in new window

Length: 32 pages
Date of creation: Feb 2003
Handle: RePEc:cae:caerpp:9
Contact details of provider: Postal:
Calle Pérez de Rosas 4, Santa Cruz de Tenerife 38004

Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:cae:caerpp:9. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jose-Victor Rios-Rull)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.