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The Role of Human Capital Accumulation for Economic Growth in East Asian countries

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Authors
Fukuda, Shin-ichi; Toya, Hideki
Issue Date
1994
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 7 (No. 2 1994): 213-237
Keywords
East Asian Countries; crosscountry evidence; expenditure on education
Abstract
The purpose of this paper is to investigate whether the difference in human capital accumulation can explain the non-convergent feature in East Asian countries. The paper first presents the cross country evidence that growth rates in East Asian countries had little correlation with the starting level of income for the last few decades. In addition, the paper shows that this non-convergent result does not change even if the regressions allow the difference in school-enrollment rates. Noting that government expenditure on education can improve the quality of education, the paper then demonstrates that government expenditure on education played a special role for East Asian miraculous economic growth for the last few decades. The paper also shows that exports played a special role in explaining the convergence hypothesis in East Asian countries.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/1040
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.07(2) (Summer 1994)
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