Rao, B. Bhaskara and Vadlamannati, Krishna Chaitanya (2009): Estimates of the level and growth effects of human capital in India.
Download (46kB) | Preview
In the extended Solow growth model of Mankiw, Romer and Weil (1992) human capital has only permanent level and no growth effects. In the endogenous growth models human capital is a growth improving variable. Human capital may have both a permanent level and a permanent growth effect. We show, with data from India, that both the level and growth effects of human capital can be estimated with an extension to the Solow model.
|Item Type:||MPRA Paper|
|Original Title:||Estimates of the level and growth effects of human capital in India|
|Keywords:||Solow model, Level and growth effects of human capital and India|
|Subjects:||O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O10 - General|
|Depositing User:||B. Bhaskara Rao|
|Date Deposited:||23. Sep 2009 16:46|
|Last Modified:||16. Feb 2013 16:51|
Benhabib, Jess and Mark M Spiegel (1994) The Role of Human Capital in Economic Development: Evidence from Aggregate Cross-Country Data, Journal of Monetary Economics, 34, 143-173
Bosworth, Barry, and Susan M. Collins (2008) Accounting for Growth: Comparing China and India, Journal of Economic Perspectives, 22(1), 45–66.
Lucas, R. E. (1988) On the Mechanics of Economic Development, Journal of Monetary Economics, 22(1), 3-42.
Lucas, R. E. (1990) Why Doesn't Capital Flow from Rich to Poor Countries?, American Economic Review, 80(2), 92-96.
Mankiw, N. G., D. Romer and D. N. Weil (1992) A Contribution to the Empirics of Economic Growth, Quarterly Journal of Economics, 107(2), 407-437.
Rao, B. B. and Singh, R., (2006) “Demand for money in India: 1953-2003", Applied Economics, 319–1326.
Rao, B. B. and Rao, M. (2009) Exports and Determinants of Growth Rate: Some Evidence with Time Series Data from Fiji, Applied Economics, 41(13), 1653-1662
Rao. B. B., Tamazian, A. and Vadlamannati, K. C., (2009, forthcoming) Growth Effects of a Comprehensive Measure of Globalization with Country Specific Time Series Data, Applied Economics, 42(1), 1-18.
Rao, B. B., Singh, R. and Kumar, S. (2009, forthcoming) Do we need time series econometrics? Applied Economics Letters.
Rao, B. B., and Rao, Gyaneshwar (2009) Cointegration and the Demand for Gasoline, Energy Policy, 39, 3978-3983.
Solow, R. (1956) A contribution to the theory of economic growth, Quarterly Journal of Economics, 70(1), 65-94.