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The Generalized Model of Economic Growth with Human Capital Accumulation

Author

Listed:
  • Yury A. Kuznetsov
  • Olga V.Michasova

Abstract

In this paper we proposed and study the generalized model of economic growth with human capital accumulation. The existence of a balanced growth path (BGP, the trajectory with constant growth rates of all variables) can be proved for the model. The paper identifies the conditions of existence and some qualitative features of the paths. The study of the BGP qualitative features, as well as the detailed study of the structure of the phase space in a neighborhood of a steady-state for the set of parameters which are typical for the developed economies, were carried out using numerical and analytical methods with MatLab.

Suggested Citation

  • Yury A. Kuznetsov & Olga V.Michasova, 2011. "The Generalized Model of Economic Growth with Human Capital Accumulation," DEGIT Conference Papers c016_050, DEGIT, Dynamics, Economic Growth, and International Trade.
    • Handle: RePEc:deg:conpap:c016_050
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    File URL: http://degit.sam.sdu.dk/papers/degit_16/c016_050.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    Economic Growth; Human Capital; Balanced Growth Path;
    All these keywords.

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