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A Hierarchy of Human Capital and Economic Growth
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- Authors
- Issue Date
- 1992-10
- Citation
- Seoul Journal of Economics, Vol.5 No.4, pp. 317-336
- Keywords
- Beckmann ; spanof control ; CRRA
- Abstract
- This paper focuses on the relationship between economic growth
and the hierarchical structure of human capital of different levels of
abstraction. The model is the usual endogenous growth model with
the inclusion of Beckmann's "span of control" technology. Major
findings are: (1) the optimal structure of human capital is pyramidal.
and (2) when there exist externalities of technology from the
most developed foreign countries to the catching-up. the catchingup
country shows more rapid economic growth and relatively more
investment on the lower level human capital than on the higher.
The comparison between the U.S.A. and Japanese or Korean data
provides the empirical support for these implications.
- ISSN
- 1225-0279
- Language
- English
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