Steps in industrial development through human capital deepening

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Steps in industrial development through human capital deepening

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Steps in industrial development through human capital deepening

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2021

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Economic Modelling

ISSN

0264-9993

e-ISSN

1873-6122

Svazek periodika

99

Číslo periodika v rámci svazku

June

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

17

Strana od-do

105470

Kód UT WoS článku

000694858000001

EID výsledku v databázi Scopus

2-s2.0-85103247372