Human capital composition, growth and development: an R&D growth model versus data

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13 Citations (Scopus)

Abstract

The effect of human capital composition on growth and development has been somewhat neglected in economic literature. However, evidence has suggested the importance of engineering and technical (high-tech) skills to economic growth, and international organizations have suggested their shortage in developed countries. Using a standard increasing variety growth model, we propose various measures of human capital composition that are related with economic growth and development. When compared to data, the model does well in explaining the rate of growth and the level of development as a function of these measures.
Original languageEnglish
Pages (from-to)41-65
JournalEmpirical Economics
Volume32
Issue number1
DOIs
Publication statusPublished - 1 Jan 2007

Keywords

  • human capital composition
  • growth
  • development
  • R&D

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