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Estimates of the level and growth effects of human capital in India

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  • Rao, B. Bhaskara
  • Vadlamannati, Krishna Chaitanya

Abstract

In the extended Solow growth model of Mankiw, Romer and Weil (1992) human capital has only permanent level and no growth effects. In the endogenous growth models human capital is a growth improving variable. Human capital may have both a permanent level and a permanent growth effect. We show, with data from India, that both the level and growth effects of human capital can be estimated with an extension to the Solow model.

Suggested Citation

  • Rao, B. Bhaskara & Vadlamannati, Krishna Chaitanya, 2009. "Estimates of the level and growth effects of human capital in India," MPRA Paper 17480, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:17480
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    References listed on IDEAS

    as
    1. Lucas, Robert E, Jr, 1990. "Why Doesn't Capital Flow from Rich to Poor Countries?," American Economic Review, American Economic Association, vol. 80(2), pages 92-96, May.
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    4. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 407-437.
    5. B. Bhaskara Rao & Rup Singh & Saten Kumar, 2010. "Do we need time series econometrics?," Applied Economics Letters, Taylor & Francis Journals, vol. 17(7), pages 695-697.
    6. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    More about this item

    Keywords

    Solow model; Level and growth effects of human capital and India;

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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