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Managerial Skill Acquisition and the Theory of Economic Development

  • Paul Beaudry
  • Patrick Francois

Micro level studies in developing countries suggest managerial skills play a key role in the adoption of modern technologies. The human resources literature suggests that managerial skills are difficult to codify and learn formally, but instead tend to be learned on the job. In this paper we present a model of the interactive process between on-the-job managerial skill acquisition and the adoption of modern technology. The environment considered is one where all learning possibilities are internalized in the market, and where managers are complementary inputs to non-managerial workers. The paper illustrates why some countries may adopt modern technologies while others stay backwards. The paper also explains why managers may not want to migrate from rich countries to poor countries as would be needed to generate income convergence.

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File URL: http://www.nber.org/papers/w11451.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 11451.

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Date of creation: Jul 2005
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Publication status: published as Paul Beaudry & Patrick Francois, 2010. "Managerial Skills Acquisition and the Theory of Economic Development," Review of Economic Studies, Blackwell Publishing, vol. 77(1), pages 90-126, 01.
Handle: RePEc:nbr:nberwo:11451
Note: EFG LS
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