scholarly journals CHILDREN’S HEALTH, HUMAN CAPITAL ACCUMULATION, AND R&D-BASED ECONOMIC GROWTH

2019 ◽  
pp. 1-18 ◽  
Author(s):  
Annarita Baldanzi ◽  
Alberto Bucci ◽  
Klaus Prettner
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Accumulation ◽  
Parental Education ◽  
Children's Health ◽  
Children’S Health ◽  
Human Capital Accumulation ◽  
Education And Health ◽  
Health Investments ◽  
Long Run

Abstract We analyze the effects of children’s health on human capital accumulation and on long-run economic growth. For this purpose, we design an R&D-based growth model in which the stock of human capital of the next generation is determined by parental education and health investments. We show that (i) there is a complementarity between education and health: if parents want to have better educated children, they also raise health investments and vice versa; (ii) parental health investments exert an unambiguously positive effect on long-run economic growth, (iii) faster population growth reduces long-run economic growth. These results are consistent with the empirical evidence for modern economies in the twentieth century.

scholarly journals Human Capital and Regional Economic Growth in Russia

2021 ◽  
Vol 17 (2) ◽  
pp. 57-80
Author(s):  
Boris Alekhin
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Panel Data ◽  
Capital Accumulation ◽  
Positive Impact ◽  
Regional Economic Growth ◽  
Human Capital Accumulation ◽  
Regional Economic ◽  
Long Run ◽  
Per Capita

This study examines the contribution of human capital accumulation to regional economic growth using panel data for 82 subjects of the Russian Federation over 2002–2019. This paper aims to test the hypothesis that in the long-run equilibrium there exists a connection between economic growth and human capital accumulation in the regions of Russia. From the point of view of econometrics, it would mean that we should refute the hypothesis that there is no cointegration of time series describing the aforementioned variables. General theoretical framework was drawn from the neoclassical growth theory, and panel data econometrics suggested the appropriate empirical methodology. Pooled mean group and fully modified least squares estimators were applied to an autoregressive distributed lags model based on the Solow model. The results indicate that accumulation of human capital has a positive and statistically significant long-term impact on the rate of growth of per capita income and that these variables are cointegrated. Such calculations allow us to make the following conclusions: per capita GRP is cointegrated with physical and human capital on the regional level. The cointegrating equation ‘explained’ more than 90% of per capita GRP variance. Human capital accumulation had a significant positive impact on per capita GRP growth in the long run; such impact exceeded the impact of physical capital accumulation. The positive impact of human capital accumulation on per capita GRP growth surpassed the negative elasticity of growth GRP by the amount of resource excluded from the real sector to provide support to students and maintain the regional education system. The paces at which regional economies were heading towards the steady state differed which is an evidence that there exist an incredible manifold of ways and means for regions to adjust to disbalancies

scholarly journals IS HUMAN CAPITAL ACCUMULATION A GROWTH DRIVER IN NIGERIA? AN EMPIRICAL INVESTIGATION

2018 ◽  
Vol 3 (2) ◽  
pp. 66-77
Author(s):  
Hassan O. Ozekhome
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Accumulation ◽  
Physical Capital ◽  
The Other ◽  
Series Data ◽  
Human Capital Accumulation ◽  
Infrastructural Development ◽  
Long Run ◽  
Physical Capital Accumulation

Accumulation of human capital is critical to sustained economic growth in the long run, since it facilitates the efficient absorption of new capital developments, improves the speed of adaptation of entrepreneurs and generates innovation necessary for sustained economic growth. It is against this premise this study investigate the human-capital accumulation growth-nexus in Nigeria. Employing a dynamic approach, involving test for unit roots, and cointegration, and finally, the Generalized Method of Moments (GMM) estimation techniques on annual time series data, covering the period 1981 to 2016, sourced from the World Bank Development Indicators (WDI) and Central Bank of Nigeria (CBN) Statistical Bulletin, the empirical findings reveal that human and physical capital accumulation significantly induce rapid and sustained economic growth in the long-run. The other variables- infrastructural development (measured by ICT infrastructure) and industrial output (a measure of industrialization) have positive but weak impacts on economic growth, on account of the weak infrastructural development, and low level of industrialization in Nigeria. Inflation rate (a measure of macroeconomic policy environment) on the other hand, is found to have a militating effect on economic growth. We recommend amongst others; sustained investments in human and physical capital accumulation, stable and coherent macroeconomic policies, particularly with respect to taming of domestic inflationary pressures, supportive institutional structures and aggressive industrialization-enhancing policies, in order to enhance sustained economic growth in Nigeria.

scholarly journals Long-Run and Short-Run Relationships Between Education and Economic Growth: The Malaysian Experience

2013 ◽  
Author(s):  
Ishak Yussof ◽  
Atif Awad Abdillah ◽  
Zulkifly Osman
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Stock ◽  
Capital Accumulation ◽  
Human Capital Accumulation ◽  
Causality Test ◽  
Long Run ◽  
Integration Test ◽  
Short Run ◽  
Education And Economic Growth

This paper investigates the long and short-run relationships between human capital, measured in terms of average years of schooling for people aged 15 years and older, and economic growth in Malaysia between 1970 and 2009. The data was collected from various sources, including the World Bank database, the International Labour Organization (ILO) and scholarly texts. The Auto Regressive Distributed Lag (ARDL) test was utilized to examine the relationships between education and economic growth. The results of the co-integration test revealed that economic growth was absolutely exogenous and the remaining variables were endogenous in Malaysia. This fi nding suggests that the status of these variables depend on the level of economic growth, while the opposite is not true. The most interesting results were that the long-run forcing variables for human capital accumulation were capital stock, employment and economic growth. However, the causality test revealed that economic growth, employment and capital stock, not only aff ects human capital in the short-run, but in the long run as well. The causality tests performed detected two-way relationships between human capital and capital stock, and employment separately in the long run. Although economic growth is exogenous, Malaysia should still continue to invest in its human capital accumulation since it could att ract more investments and subsequently create employment opportunities within the economy.   Keywords: Education levels, education development, income, economic growth.

Human Capital Accumulation and Resource Abundance

2011 ◽  
pp. 66-77
Author(s):  
O. Vasilieva
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Accumulation ◽  
Relevant Literature ◽  
Harmful Effect ◽  
Human Capital Accumulation ◽  
Resource Abundance ◽  
Empirical Results ◽  
Theoretical Predictions ◽  
Crowd Out

Does resource abundance positively affect human capital accumulation? Or, alternatively, does it «crowd out» the human capital leading to the deterioration of economic growth? The paper gives an overview of the relevant literature and discusses both theoretical and empirical results obtained regarding the connection between human capital accumulation and resource abundance. It shows that despite some theoretical predictions about the harmful effect of resource abundance on human capital accumulation, unambiguous evidence of such impact that would be robust with respect to the change of resource abundance parameter has not been obtained yet.

Human capital accumulation, income distribution, and economic growth: a demand-led analytical framework

2021 ◽  
Vol 9 (3) ◽  
pp. 319-336
Author(s):  
Gilberto Tadeu Lima ◽  
Laura Carvalho ◽  
Gustavo Pereira Serra
Keyword(s):  
Human Capital ◽  
Capital Accumulation ◽  
Analytical Framework ◽  
Output Growth ◽  
Human Capital Accumulation ◽  
Capital Utilization ◽  
Tax Rate ◽  
Long Run ◽  
The Impact ◽  
Long Run Equilibrium

This paper incorporates human capital accumulation through provision of universal public education by a balanced-budget government to a demand-driven analytical framework of functional distribution and growth of income. Human capital accumulation positively impacts on workers’ productivity in production and their bargaining power in wage negotiations. In the long-run equilibrium, a rise in the tax rate (which also denotes the share of output spent in human capital formation) lowers the pre- and after-tax wage share and physical capital utilization, and thus raises (lowers) the output growth rate when the latter is profit-led (wage-led). The impact of a higher tax rate on the employment rate (which also measures human capital utilization) in the long-run equilibrium is negative (ambiguous) when output growth is wage-led (profit-led). In any case, the supply of higher-skilled workers does not automatically create its own demand.

On the Effectiveness of Growth- Enhancing Policies in a Model of Growth Without Scale Effects

2002 ◽  
Vol 3 (3) ◽  
pp. 339-346 ◽  
Author(s):  
Lutz G. Arnold
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Human Capital ◽  
Population Growth ◽  
Capital Accumulation ◽  
Scale Effects ◽  
Growth Models ◽  
Empirical Studies ◽  
Human Capital Accumulation ◽  
Accelerate Growth

Abstract Standard R&D growth models have two disturbing properties: the presence of scale effects (i.e., the prediction that larger economies grow faster) and the implication that there is a multitude of growth-enhancing policies. Recent models of growth without scale effects, such as Segerstrom's (1998), not only remove the counterfactual scale effect, but also imply that the growth rate does not react to any kind of economic policy. They share a different disturbing property, however: economic growth depends positively on population growth, and the economy cannot grow in the absence of population growth. The present paper integrates human capital accumulation into Segerstrom's (1998) model of growth without scale effects. Consistent with many empirical studies, growth is positively related not to population growth, but to investment in human capital. And there is one way to accelerate growth: subsidizing education.

Human Capital as a Determinant of Long-Term Economic Growth

2018 ◽  
pp. 249-264
Author(s):  
Siriwan Saksiriruthai
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Economic Development ◽  
Capital Accumulation ◽  
Economic Reforms ◽  
Success Factor ◽  
Human Capital Accumulation ◽  
Modern Economic ◽  
And Migration ◽  
Capital Development

This chapter aims to investigate the importance of human capital as a key success factor to economic growth and modern economic reforms as well as exploring determinants of human capital. Then factors influencing human capital accumulation as well as case studies are discussed to illustrate the influence of human capital to economic growth and reforms. Together with economic reforms, supportive education and human capital development policies, some countries could generate a dramatic technology and economic development. Currently, human capital even becomes crucial because of this technological progress. Thus, modern economic reform needs more intense human capital accumulation to cope with more advanced technology. In this chapter, we investigate the role of human capital accumulation by education and migration process in economic reforms and development of three countries with completely different conditions of economic development.

Sign in / Sign up

Export Citation Format

Share Document