Capital-Specific Technological Change and Human Capital Accumulation in a Model of Export-Led Growth PDF Download
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Author: Ricardo Azevedo Araujo
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
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Book Description
This paper contributes to the literature on economic growth by seeking to join several lines of research on structural factors in a more fully specified framework, on the one hand, and by making this more inclusive supply side to interact with demand factors in a model of export-led growth, on the other hand. Balance-of-payments constraints influence the adoption of investment-specific technological change which requires the import of capital goods, while the sectoral allocation of physical and human capital is likewise revealed to be crucial for growth, both results having important policy implications.
Author: Ricardo Azevedo Araujo
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
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Book Description
This paper contributes to the literature on economic growth by seeking to join several lines of research on structural factors in a more fully specified framework, on the one hand, and by making this more inclusive supply side to interact with demand factors in a model of export-led growth, on the other hand. Balance-of-payments constraints influence the adoption of investment-specific technological change which requires the import of capital goods, while the sectoral allocation of physical and human capital is likewise revealed to be crucial for growth, both results having important policy implications.
Author: Theo Stefan Eicher
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 148
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Author: Daniela Vidart
Publisher:
ISBN:
Category :
Languages : en
Pages : 166
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Book Description
This dissertation consists of three chapters. The first two chapters revisit the link between electrification and the rise in female labor force participation (LFP) during the first half of the 20th century in the United States. Jointly, these two chapters provide theoretical and empirical evidence that one key and previously overlooked way through which electrification led to a rise in female LFP was by increasing market opportunities for skilled women. In the first chapter, I formalize my theory in an overlapping generations model with endogenous human capital accumulation. I find that my mechanism explains one-third of the rise in female LFP during the rollout of electricity in the United States from 1880 to 1960, and helps explain the slow change in female home production hours and work hours during this period. In the second chapter, I present micro evidence that supports my theory using newly digitized data on the electrification of the United States in the 1910s. Consistent with the theory, I find that higher levels of educational attainment increased the response of young women's employment to electrification in this period, particularly for those with post-secondary education, and that electrification raised the educational attainment of subsequent generations of women. In the third chapter, in work joint with Remy Levin, we present evidence for a new channel linking the low rates of individual risk-taking ubiquitous in developing countries, to lifetime experiences of macroeconomic growth and volatility. We combine two panel data sets from Indonesia and Mexico, containing elicited measures of risk aversion, with state-level real GDP growth time series capturing their lifetime macroeconomic experiences. We find that living through periods of increasing macroeconomic volatility increases measured risk aversion, while living through periods of increasing average macroeconomic growth decreases measured risk aversion. However, the aforementioned effects of macroeconomic volatility are 2-4 times larger than those of average macroeconomic growth. These effects are robust to controlling for changes in income, wealth, savings, and exposure to violence and natural disasters. Moreover, these effects are economically significant, translating into changes in outcomes that closely depend on risk attitudes, like borrowing, migration and crop choice.
Author: Ángel de la Fuente
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 128
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Book Description
Author: Shanti S. Tangri
Publisher:
ISBN:
Category : Developing countries
Languages : en
Pages : 172
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Book Description
Author: Yulin Hou
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Many developing countries have experienced export-led growth in the last half century. This paper asks whether the content of what economies export matters for human capital accumulation. We construct a small open economy model and find that expansion of primary exports can harm human capital accumulation if the economy is initially allocating significant resources to the production of primary goods. We then test this prediction empirically using Latin American data over the period 1965 to 2010 and find robust evidence in support of the hypothesis that a shift towards primary exports reduces human capital accumulation. Given the importance of the latter for long-run growth, our results suggest a potential role for policy intervention.
Author: Fukunari Kimura
Publisher:
ISBN:
Category :
Languages : en
Pages : 34
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Book Description
Author: Ligang Song
Publisher:
ISBN: 9781760460341
Category : China
Languages : en
Pages :
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Book Description
China's change to a new model of growth, now called the 'new normal', was always going to be hard. Events over the past year show how hard it is. The attempts to moderate the extremes of high investment and low consumption, the correction of overcapacity in the heavy industries that were the mainstays of the old model of growth, the hauling in of the immense debt hangover from the fiscal and monetary expansion that pulled China out of the Great Crash of 2008 would all have been hard at any time. They are harder when changes in economic policy and structure coincide with stagnation in global trade and rising protectionist sentiment in developed countries, extraordinarily rapid demographic change and recognition of the urgency of easing the environmental damage from the old model. China's economy has slowed and there are worries that the authorities will not be able to contain the slowdown within preferred limits. This year's Update explores the challenge of the slowdown in growth and the change in economic structure. Leading experts on China's economy and environment review change within China's new model of growth, and its interaction with ageing, environmental pressure, new patterns of urbanisation, and debt problems at different levels of government. It illuminates some new developments in China's economy, including the transformational potential of internet banking, and the dynamics of financial market instability. China's economic development since 1978 is full of exciting change, and this year's China Update is again the way to know it as it is happening.
Author: Engelbert Stockhammer
Publisher: Springer
ISBN: 1137357932
Category : Business & Economics
Languages : en
Pages : 329
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Book Description
This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
Author: Ju-Ho Lee
Publisher: Edward Elgar Publishing
ISBN: 1786436973
Category : Economic development
Languages : en
Pages : 431
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Book Description
During recent decades, Korea has been one of only a handful of countries that have made the successful transformation to become a developed nation by simultaneously achieving persistent economic growth combined with a democratic political system. Experts and political leaders worldwide have attributed this achievement to investments in people or, in other words, the power of education. Whilst numerous books have highlighted the role of industrial policies, technological growth, and international trade in Korea’s development process, this is one of the first to focus on the role of human capital. It shows how the accumulation of human capital aided transformation and helps explain the policies, strategies and challenges that Korea faces now and in the future.
