A Human Capital Theory of Growth: New Evidence for an Old Idea
In 1960 Theodore Schultz expounded a human capital theory of economic growth that includes three elements: 1) Countries without much human capital cannot manage physical capital effectively, 2) Economic growth can only proceed if physical capital and human capital rise together, and 3) Human capital...
- Autores:
-
Breton, Theodore R.
- Tipo de recurso:
- Fecha de publicación:
- 2014
- Institución:
- Universidad EAFIT
- Repositorio:
- Repositorio EAFIT
- Idioma:
- eng
- OAI Identifier:
- oai:repository.eafit.edu.co:10784/2646
- Acceso en línea:
- http://hdl.handle.net/10784/2646
- Palabra clave:
- Human Capital
Schooling
Capital Investment
Economic Growth
Solow Model
Market Economies
- Rights
- License
- Acceso abierto
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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 degrees2014-06-17T16:08:25Z2014-01-012014-06-17T16:08:25Zhttp://hdl.handle.net/10784/2646E13I21O11O15O41In 1960 Theodore Schultz expounded a human capital theory of economic growth that includes three elements: 1) Countries without much human capital cannot manage physical capital effectively, 2) Economic growth can only proceed if physical capital and human capital rise together, and 3) Human capital is the factor most likely to limit growth. I specify Schultz’s theory mathematically and test it in periods when global financial capital was highly mobile. I find that in 1870, 1910, and 2000, the average schooling attainment of the adult population largely determined the stock of physical capital/capita and GDP/capita in 42 market economies.engUniversidad EAFITEscuela de Economía y FinanzasA Human Capital Theory of Growth: New Evidence for an Old IdeaworkingPaperinfo: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_abf2Human CapitalSchoolingCapital InvestmentEconomic GrowthSolow ModelMarket Economiested.breton@gmail.comBreton, Theodore R.LICENSElicense.txtlicense.txttext/plain; charset=utf-81145https://repository.eafit.edu.co/bitstreams/de10f970-523b-482b-a7e4-d6b30fe52942/downloada4a15015cc3b57a4390e89906678ba6eMD52ORIGINAL2014_13_Theodore_Bretonpdf.pdf2014_13_Theodore_Bretonpdf.pdfDocumento de trabajo de investigaciónapplication/pdf1305760https://repository.eafit.edu.co/bitstreams/a809e7c4-59ec-4405-a675-15bb4d093ee1/download236bed9a5dc52dd986e93d8cfcbc3b7aMD5310784/2646oai:repository.eafit.edu.co:10784/26462024-03-05 14:06:32.614open.accesshttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.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 |
dc.title.eng.fl_str_mv |
A Human Capital Theory of Growth: New Evidence for an Old Idea |
title |
A Human Capital Theory of Growth: New Evidence for an Old Idea |
spellingShingle |
A Human Capital Theory of Growth: New Evidence for an Old Idea Human Capital Schooling Capital Investment Economic Growth Solow Model Market Economies |
title_short |
A Human Capital Theory of Growth: New Evidence for an Old Idea |
title_full |
A Human Capital Theory of Growth: New Evidence for an Old Idea |
title_fullStr |
A Human Capital Theory of Growth: New Evidence for an Old Idea |
title_full_unstemmed |
A Human Capital Theory of Growth: New Evidence for an Old Idea |
title_sort |
A Human Capital Theory of Growth: New Evidence for an Old Idea |
dc.creator.fl_str_mv |
Breton, Theodore R. |
dc.contributor.eafitauthor.none.fl_str_mv |
ted.breton@gmail.com |
dc.contributor.author.none.fl_str_mv |
Breton, Theodore R. |
dc.subject.keyword.eng.fl_str_mv |
Human Capital Schooling Capital Investment Economic Growth Solow Model Market Economies |
topic |
Human Capital Schooling Capital Investment Economic Growth Solow Model Market Economies |
description |
In 1960 Theodore Schultz expounded a human capital theory of economic growth that includes three elements: 1) Countries without much human capital cannot manage physical capital effectively, 2) Economic growth can only proceed if physical capital and human capital rise together, and 3) Human capital is the factor most likely to limit growth. I specify Schultz’s theory mathematically and test it in periods when global financial capital was highly mobile. I find that in 1870, 1910, and 2000, the average schooling attainment of the adult population largely determined the stock of physical capital/capita and GDP/capita in 42 market economies. |
publishDate |
2014 |
dc.date.available.none.fl_str_mv |
2014-06-17T16:08:25Z |
dc.date.issued.none.fl_str_mv |
2014-01-01 |
dc.date.accessioned.none.fl_str_mv |
2014-06-17T16:08:25Z |
dc.type.eng.fl_str_mv |
workingPaper info:eu-repo/semantics/workingPaper |
dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_b1a7d7d4d402bcce |
dc.type.coar.fl_str_mv |
http://purl.org/coar/resource_type/c_8042 |
dc.type.local.spa.fl_str_mv |
Documento de trabajo de investigación |
dc.type.hasVersion.eng.fl_str_mv |
draft |
dc.identifier.uri.none.fl_str_mv |
http://hdl.handle.net/10784/2646 |
dc.identifier.jel.none.fl_str_mv |
E13 I21 O11 O15 O41 |
url |
http://hdl.handle.net/10784/2646 |
identifier_str_mv |
E13 I21 O11 O15 O41 |
dc.language.iso.eng.fl_str_mv |
eng |
language |
eng |
dc.rights.coar.fl_str_mv |
http://purl.org/coar/access_right/c_abf2 |
dc.rights.local.spa.fl_str_mv |
Acceso abierto |
rights_invalid_str_mv |
Acceso abierto http://purl.org/coar/access_right/c_abf2 |
dc.coverage.spatial.eng.fl_str_mv |
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 |
dc.publisher.spa.fl_str_mv |
Universidad EAFIT |
dc.publisher.department.spa.fl_str_mv |
Escuela de Economía y Finanzas |
institution |
Universidad EAFIT |
bitstream.url.fl_str_mv |
https://repository.eafit.edu.co/bitstreams/de10f970-523b-482b-a7e4-d6b30fe52942/download https://repository.eafit.edu.co/bitstreams/a809e7c4-59ec-4405-a675-15bb4d093ee1/download |
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bitstream.checksumAlgorithm.fl_str_mv |
MD5 MD5 |
repository.name.fl_str_mv |
Repositorio Institucional Universidad EAFIT |
repository.mail.fl_str_mv |
repositorio@eafit.edu.co |
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1814110524102672384 |