Human capital and growth in japan since 1970: converging to the steady state in a 1% world.
Annual growth in GDP/adult in Japan has declined from over 10% in 1969 to an average of 1% since the financial crisis in 1991. I show that a dynamic Solow growth model, augmented with human capital, weekly labor-hours, and oil prices, explains Japan’s annual growth rates from 1969 to 2007 as conditi...
- Autores:
-
Breton, Theodore R.
- Tipo de recurso:
- Fecha de publicación:
- 2013
- Institución:
- Universidad EAFIT
- Repositorio:
- Repositorio EAFIT
- Idioma:
- eng
- OAI Identifier:
- oai:repository.eafit.edu.co:10784/549
- Acceso en línea:
- http://hdl.handle.net/10784/549
- Palabra clave:
- Japan
Human Capital
Schooling
Productivity
Economic Growth
Convergence
- Rights
- License
- Acceso abierto
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| dc.title.eng.fl_str_mv |
Human capital and growth in japan since 1970: converging to the steady state in a 1% world. |
| title |
Human capital and growth in japan since 1970: converging to the steady state in a 1% world. |
| spellingShingle |
Human capital and growth in japan since 1970: converging to the steady state in a 1% world. Japan Human Capital Schooling Productivity Economic Growth Convergence |
| title_short |
Human capital and growth in japan since 1970: converging to the steady state in a 1% world. |
| title_full |
Human capital and growth in japan since 1970: converging to the steady state in a 1% world. |
| title_fullStr |
Human capital and growth in japan since 1970: converging to the steady state in a 1% world. |
| title_full_unstemmed |
Human capital and growth in japan since 1970: converging to the steady state in a 1% world. |
| title_sort |
Human capital and growth in japan since 1970: converging to the steady state in a 1% world. |
| dc.creator.fl_str_mv |
Breton, Theodore R. |
| dc.contributor.author.none.fl_str_mv |
Breton, Theodore R. |
| dc.subject.keyword.eng.fl_str_mv |
Japan Human Capital Schooling Productivity Economic Growth Convergence |
| topic |
Japan Human Capital Schooling Productivity Economic Growth Convergence |
| description |
Annual growth in GDP/adult in Japan has declined from over 10% in 1969 to an average of 1% since the financial crisis in 1991. I show that a dynamic Solow growth model, augmented with human capital, weekly labor-hours, and oil prices, explains Japan’s annual growth rates from 1969 to 2007 as conditional convergence to a steady-state rate of 1%/year. Each additional year of average adult schooling attainment raised GDP/adult directly and indirectly by 20 percent, and weekly hours worked had an output elasticity of 0.5. The marginal product of schooling was double the marginal product of physical capital. |
| publishDate |
2013 |
| dc.date.available.none.fl_str_mv |
2013-03-07T21:21:17Z 2014-11-20 |
| dc.date.accessioned.none.fl_str_mv |
2013-03-07T21:21:17Z |
| dc.date.issued.none.fl_str_mv |
2014-11-20 |
| dc.type.eng.fl_str_mv |
workingPaper info:eu-repo/semantics/workingPaper |
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http://purl.org/coar/resource_type/c_8042 |
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Documento de trabajo de investigación |
| dc.type.hasVersion.eng.fl_str_mv |
draft |
| dc.identifier.uri.none.fl_str_mv |
http://hdl.handle.net/10784/549 |
| dc.identifier.jel.none.fl_str_mv |
I25 O41 O53 |
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http://hdl.handle.net/10784/549 |
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I25 O41 O53 |
| dc.language.iso.eng.fl_str_mv |
eng |
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eng |
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http://purl.org/coar/access_right/c_abf2 |
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Acceso abierto |
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Acceso abierto http://purl.org/coar/access_right/c_abf2 |
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Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees |
| institution |
Universidad EAFIT |
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1814110309319704576 |
| spelling |
Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees2014-11-202013-03-07T21:21:17Z2014-11-202013-03-07T21:21:17Zhttp://hdl.handle.net/10784/549I25O41O53Annual growth in GDP/adult in Japan has declined from over 10% in 1969 to an average of 1% since the financial crisis in 1991. I show that a dynamic Solow growth model, augmented with human capital, weekly labor-hours, and oil prices, explains Japan’s annual growth rates from 1969 to 2007 as conditional convergence to a steady-state rate of 1%/year. Each additional year of average adult schooling attainment raised GDP/adult directly and indirectly by 20 percent, and weekly hours worked had an output elasticity of 0.5. The marginal product of schooling was double the marginal product of physical capital.engHuman capital and growth in japan since 1970: converging to the steady state in a 1% world.workingPaperinfo:eu-repo/semantics/workingPaperDocumento de trabajo de investigacióndrafthttp://purl.org/coar/version/c_b1a7d7d4d402bccehttp://purl.org/coar/resource_type/c_8042Acceso abiertohttp://purl.org/coar/access_right/c_abf2JapanHuman CapitalSchoolingProductivityEconomic GrowthConvergenceBreton, Theodore R.tbreton@eafit.edu.coted.breton@gmail.comLICENSElicense.txtlicense.txttext/plain; charset=utf-81748https://repository.eafit.edu.co/bitstreams/4205b784-4351-4362-9cd6-dea13a1ff82d/download8a4605be74aa9ea9d79846c1fba20a33MD52ORIGINAL2012_2_Theodore_Breton(NV).pdf2012_2_Theodore_Breton(NV).pdfapplication/pdf1484063https://repository.eafit.edu.co/bitstreams/30c571a7-eaa9-4180-b01f-de2ed0f5900c/download57e9abb37504884f860acd0d6eacb7c2MD5310784/549oai:repository.eafit.edu.co:10784/5492024-03-05 14:06:15.783open.accesshttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.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 |