Human Capital, Aggregation, and Growth

Growiec, Jakub

doi:10.1017/s1365100509090257

Cited by 15 publications

(5 citation statements)

References 31 publications

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“…Our aggregative model abstracts from finite lifetimes of individuals, though. Keeping this in mind, and having noted that there is no externality in equation (4), i.e., v is the individual number of social ties, we can apply the argument developed by Growiec (2010) here and demonstrate that accounting for finite lifetimes in our model would eliminate the currently discussed endogenous growth possibility. We can thus safely rule this case out from our present considerations.…”

Section: Resultsmentioning

confidence: 74%

Social Capital, Trust, and Multiple Equilibria in Economic Performance

Growiec¹,

Growiec

2012

Macroecon. Dynam.

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We propose a novel mechanism giving rise to poverty traps and multiple equilibria in economic performance. It is a potentially important source of persistent underdevelopment across countries and regions. At the core of this mechanism, bridging social capital and social trust feed back on each other, interdependently affecting individuals' earnings and subjective well-being. High trust and abundant bridging social capital reinforce each other, leading to a “high” equilibrium where both these variables take persistently high values, and earnings and well-being are high as well, whereas low trust and lack of bridging social capital create a vicious circle, leading to a “low trust trap” where all these variables are persistently low. The workings of our theoretical model are in agreement with a wide range of findings from the contemporary literature in sociology and social psychology.

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Section: Resultsmentioning

confidence: 74%

Social Capital, Trust, and Multiple Equilibria in Economic Performance

Growiec¹,

Growiec

2012

Macroecon. Dynam.

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“…Silva (2010) suggests that countries with higher-quality human capital opt for more risky projects and have higher productivity. The positive effect of human capital on nonlinear economic growth is also reinforced by others such as Growiec (2010) and Kottaridia and Stengos (2010). Walder and Nguyen (2008) study the pattern of economic development in China and Vietnam and state that ''the scale of economic enterprises and the allocation of property rights shape the social structure and influence income distribution'' (p. 251).…”

Section: Entrepreneurial Enterprisesmacromarketingmentioning

confidence: 99%

Vietnam and Entrepreneurial Private Enterprises

Paswan

Tran

2011

Journal of Macromarketing

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This study focuses on the phenomenon of entrepreneurial private enterprises and their macromarketing implications in Vietnam-a vibrant economy transitioning from a centrally planned economy to the current system of socialist-oriented market economy. Relying on the writings on entrepreneurship and associated theoretical frameworks (including the complex adaptive system [CAS] perspective), especially in emerging economies, this study develops a framework for capturing the macromarketing implications of entrepreneurial private enterprises. Further, this study suggests that entrepreneurial private enterprises play a crucial role in the economic well-being (a key aspect of quality of life) of citizens in Vietnam; and the growth in entrepreneurial private enterprises is influenced by nonroutine actions by key stakeholders such as the government; and associated with the availability of skilled human resources.

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“…These studies generally find education to have a positive and significant effect on income growth rate. The growth effect comes through several channels; among which are the ability to create and absorb new technologies, improve health, increased savings and investments (especially in human capital), and the externalities effects of education (Groweic, 2010).…”

Section: Previous Studiesmentioning

confidence: 99%

Education and Economic Development in Africa*

Gyimah‐Brempong¹

2011

African Development Review

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This paper uses panel data from two new data sets on educational attainment to investigate the effects of education on several development outcomes in African countries. I find that education has a positive and significant impact on these development outcomes. I also find that different levels of education affect development outcomes differently; for some development outcomes, primary and secondary education may be more important than tertiary education, while for some development outcomes, such as income growth rate, tertiary education may be more important. The results of this paper have implications for development policy in African countries.

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Human Capital, Aggregation, and Growth

Cited by 15 publications

References 31 publications

Social Capital, Trust, and Multiple Equilibria in Economic Performance

Social Capital, Trust, and Multiple Equilibria in Economic Performance

Vietnam and Entrepreneurial Private Enterprises

Education and Economic Development in Africa*

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