Steps in industrial development through human capital deepening
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F21%3A00544273" target="_blank" >RIV/67985998:_____/21:00544273 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1016/j.econmod.2021.02.011" target="_blank" >https://doi.org/10.1016/j.econmod.2021.02.011</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.econmod.2021.02.011" target="_blank" >10.1016/j.econmod.2021.02.011</a>
Alternative languages
Result language
angličtina
Original language name
Steps in industrial development through human capital deepening
Original language description
This paper presents a model in which human capital is deepened, education time increases, and labor shifts away from agriculture. These notable trends in industrial development accompany incremental steps upward in the level of education productivity. As education grows, human capital becomes relatively abundant and industries react by deepening their investment in human capital. Industries that use human capital relatively more intensively experience relatively lower prices and higher output. New industries are assumed to emerge in step with education productivity. Each new industry is assumed to have a relatively higher human capital factor share. As human capital deepening occurs, labor shifts toward the new industry and away from traditional industry. I delineate these features by extending a well-known model of endogenous economic growth through human capital investment. The extension disaggregates output into separate industries with different shares of the human capital factor. This enables trademark features of industrial development. The model explains rising education levels, growth, and labor reallocation using a minimally complex approach that jointly explains stylized facts through human capital deepening within each industry.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50201 - Economic Theory
Result continuities
Project
—
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Economic Modelling
ISSN
0264-9993
e-ISSN
1873-6122
Volume of the periodical
99
Issue of the periodical within the volume
June
Country of publishing house
NL - THE KINGDOM OF THE NETHERLANDS
Number of pages
17
Pages from-to
105470
UT code for WoS article
000694858000001
EID of the result in the Scopus database
2-s2.0-85103247372