Human capital, inequality, endogenous growth and educational subsidy: A theoretical analysis

Chakraborty, Bidisha; Gupta, Manash Ranjan

doi:10.1016/j.rie.2009.03.001

Cited by 5 publications

(3 citation statements)

References 43 publications

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“…Energy-poor advanced economies, like Japan, Hong Kong, Korea and Singapore, can sustain its recent economic development due to their accumulated human capital, through education and other sources. We assume that human capital accumulation mainly comes from education [13], [14], [15], [16], [17], [18], [19]. In addition to the capital goods sector and services sector, the national economy is composed of three sectors.…”

Section: Introductionmentioning

confidence: 99%

Education, saving, tourism, imported energy, foreign good, and trade balance of a small open economy

ZHANG

2019

SCRD

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This paper builds an economic growth model with endogenous wealth and human capital accumulation. It analyzes interactions between domestic economic structure, foreign goods, foreign tourism, and imported energy. Education, foreign goods, foreign tourism, and imported energy are integrated into small-open growth models with wealth accumulation in a comprehensive framework. The economic structure is a synthesis of Uzawaâ€™s two-sector growth model and Uzawa-Lucasâ€™ two-sector growth model. The economy is composed of one capital goods sector, services sector, and education sector. The capital goods sector, service sector and households need energies, which foreign economies supply. The capital goods sector, services sector, and households use up the land. The general equilibrium model determines consumption, production, saving, education and resource distribution under given rate of interest and prices of imported energy and goods fixed in international markets. We build the model and simulates its behavior. We conduct comparative dynamic analysis to demonstrate how different exogenous changes change transitory processes and long-run structures of economic growth.

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Section: Introductionmentioning

confidence: 99%

Education, saving, tourism, imported energy, foreign good, and trade balance of a small open economy

ZHANG

2019

SCRD

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“…The model explains a competitive economy composed of education and production sectors. The Uzawa-Lucas model is generalized in numerous studies (e.g., Jones et al 1993;Stokey and Rebelo, 1995;De Hek, 2005;Chakraborty and Gupta, 2009;and Sano and Tomoda, 2010). This study follows this tradition in modelling human capital in a multi-country framework with endogenous knowledge.…”

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confidence: 99%

Conhecimento Global e Riqueza com Capital Humano Nacional e Comércio Livre

Zhang

2021

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Este documento trata de questões de crescimento económico global com riqueza privada endógena, capital humano nacional, e conhecimento global. Construímos um modelo de crescimento multinacional entre a acumulação de riqueza, a mudança do capital humano e o crescimento do conhecimento, integrando os mecanismos económicos básicos em algumas teorias. O modelo é enquadrado na teoria do crescimento neoclássico. A acumulação de capital humano baseia-se no modelo biossectormal Uzawa-Lucas. O padrão comercial é determinado como no modelo comercial de Oniki-Uzawa. O crescimento do conhecimento é influenciado pela nova teoria do crescimento. O comportamento das famílias é modelado usando o conceito de Zhang de rendimento disponível e função de utilidade. A dinâmica da economia mundial do país J é descrita por 2J+1 equações diferenciais de riqueza, capital humano e conhecimento. Simulamos o movimento da economia global com base em três economias. Também realizamos uma análise dinâmica comparativa para mostrar como as mudanças nas características nacionais, tais como propensão para poupar, propensão para receber educação, eficiência na aplicação do capital humano e criatividade, mudam os caminhos dinâmicos do desenvolvimento económico global e doméstico.

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“…We would address this issue in future. Interested researchers, however, may checkChakraborty and Gupta (2009), Dutta (2010, 2014), etc., for some more insightful techniques and implications for skill formation issues.…”

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confidence: 99%

Time zone difference, skill formation and corrupt informal sector: the role of virtual trade

Prasad

Mandal

2019

Ind. Econ. Rev.

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This paper uses competitive general equilibrium model of trade for small open economy with informal sector to check the possible effects of virtual trade. We show that skilled labors and educational capital owners benefit from virtual trade. The service sector expands while the formal and informal sector contract along with the number of people engaged in corruption-related intermediation. Following this, we also check the effect of a fall in the extent of cost of corruption. Results show an increase in unskilled wage and outflow of educational capital thus hurting the skill-intensive sector. We proceed further to club the effects of both virtual trade and fall in intermediation cost, and explore the consequences. Though, both skilled and unskilled labors benefit, the effect on output and intermediators, however, is ambiguous. We then modify the basic model to endogenize the cost of corruption, include punishment aspect of intermediators, etc. In this case, owing to time zone difference exploitation, we experience an increase in wage of both types of labor, an expansion of the service sector and contraction of the informal sector. Interestingly, the cost of intermediation rises while the number of intermediators falls in the extended model.

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Human capital, inequality, endogenous growth and educational subsidy: A theoretical analysis

Cited by 5 publications

References 43 publications

Education, saving, tourism, imported energy, foreign good, and trade balance of a small open economy

Education, saving, tourism, imported energy, foreign good, and trade balance of a small open economy

Conhecimento Global e Riqueza com Capital Humano Nacional e Comércio Livre

Time zone difference, skill formation and corrupt informal sector: the role of virtual trade

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