Munich Personal RePEc Archive

Institutionally Induced Human Capital Vintages and Economic Growth in Transition

Simeonova-Ganeva, Ralitsa and Ganev, Kaloyan (2006): Institutionally Induced Human Capital Vintages and Economic Growth in Transition. Published in: YearBook of the Faculty of Economics and Business Administration, Sofia University St. Kliment Ohridski , Vol. Vol. 7, No. 2008 (2008): pp. 53-68.

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Abstract

In this paper we introduce additional parameters of the economic environment related to some notion of “distance” to institutions in a simple formal model. This distance could be viewed as an uneven spatial distribution (or coverage) of institutions with respect to population distribution. We are led to conclude here that distance to institutions is an important determinant of the emergence of heterogeneous (vintage) human capital. Our modeling framework also shows, that the existence of uneven access (or distance) to institutions leads to important implications concerning economic growth.

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