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Capital Augmenting and Labor Augmenting Approach in Measuring Contribution of Human Capital and Education to Economic Growth

  • Milenko Popovic

    (INSTITUTE OF ECONOMIC SCIENCES, Belgrade, Serbia & Montenegro)

In this paper an effort has been made to unveil some hidden and implicit assumptions that has been used in different models dealing with analysis and measurement of contribution of human capital to economic growth. In order to do it we started from the general production function with heterogeneous labor input and general production function with heterogeneous human and physical capital. By introducing different assumptions regarding the partial elasticity of substitution between different factors of production we derived different models for human capital contribution. Apart from making hidden assumptions of existing models explicit we also derived several others models that can be used for the same purposes.

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File URL: http://econwpa.repec.org/eps/dev/papers/0502/0502002.pdf
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Paper provided by EconWPA in its series Development and Comp Systems with number 0502002.

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Length: 39 pages
Date of creation: 05 Feb 2005
Date of revision:
Handle: RePEc:wpa:wuwpdc:0502002
Note: Type of Document - pdf; pages: 39
Contact details of provider: Web page: http://econwpa.repec.org

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