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Urban Dynamics and Growth: Advances in Urban Economics
Type: Book
ISBN: 978-0-44451-481-3

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Article
Publication date: 1 May 2000

Massimo Giannini

Aims to provide an analytical framework investigating the accumulation of human capital in an OLG framework characterized by a continuous interplay between human capital

Abstract

Aims to provide an analytical framework investigating the accumulation of human capital in an OLG framework characterized by a continuous interplay between human capital distribution and individual choice of accumulation. This leads to a wide variety of dynamics. Generally, more equal economies tend to accumulate a higher human capital but other cases are possible. The accumulation is characterized by bimodality or multimodality in the human capital distribution and by an endogenous poverty trap.

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International Journal of Manpower, vol. 21 no. 3/4
Type: Research Article
ISSN: 0143-7720

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Article
Publication date: 5 September 2008

Vladimir Kuhl Teles and Joaquim Andrade

The main purpose of this paper is to visualize the relation between government spending on basic education and the human capital accumulation process, observing the…

Abstract

Purpose

The main purpose of this paper is to visualize the relation between government spending on basic education and the human capital accumulation process, observing the impacts of this spending on individual investments in higher education, and on economic growth.

Design/methodology/approach

The paper uses an overlapping‐generations model where the government tax the adult generation and spent it in basic education of the next generations.

Findings

It was demonstrated that the magnitude of the marginal effect of government spending in basic education on growth crucially depends on public budget constrains.

Originality/value

The paper explains why some countries with a lot of public investment in basic education growth at low rates. In that sense if a country has only a lot of public investment in basic education without investment in higher education it may growth at low rates because the taxation can cause distortions in the agents incentives to invest in higher education.

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Journal of Economic Studies, vol. 35 no. 4
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 5 March 2018

Kashif Munir and Shahzad Arshad

The purpose of this paper is to examine the long-run and short-run relationship between factor accumulation (i.e. physical capital and human capital) and economic growth…

Abstract

Purpose

The purpose of this paper is to examine the long-run and short-run relationship between factor accumulation (i.e. physical capital and human capital) and economic growth by calculating the stocks of human capital and real physical capital.

Design/methodology/approach

The study uses endogenous growth model, where GDP per worker is the dependent variable and factor accumulation (real physical capital per worker and human capital) is the explanatory variable under the autoregressive distributive lag framework from 1973 to 2014 for Pakistan.

Findings

The results suggest that there is a long-run relationship between factor accumulation and GDP per worker in Pakistan. Findings of the study are consistent with the endogenous growth model suggesting that accumulation of human capital increases labor productivity, employment level and per capita income, and causes economic growth.

Practical implications

Developing countries like Pakistan should increase share of human capital for economic development. Government should invest in the education sector because investment in human capital has a large potential of productivity growth and welfare increase in developing countries.

Originality/value

This study challenges the notion of human capital and real physical capital stock used by different researchers. Considering human capital as a core factor of production, a series of human capital as average year of schooling is calculated by utilizing the perpetual inventory method.

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International Journal of Social Economics, vol. 45 no. 3
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 4 April 2020

John Roufagalas and Alexei G. Orlov

The purpose of the paper is twofold: to construct and analyze a novel endogenous growth model, in which unbounded growth is possible without the need to assume increasing…

Abstract

Purpose

The purpose of the paper is twofold: to construct and analyze a novel endogenous growth model, in which unbounded growth is possible without the need to assume increasing returns to scale, and to use the model to estimate the long-run (or dynamic) costs of recessions.

Design/methodology/approach

In the proposed model, endogenous technology and human capital accumulation serve as the “twin engines of growth.” Simulations are used to derive growth rates consistent with long-term experience of developed countries, to understand better the differences between balanced growth and unbounded growth and to provide an estimate of the dynamic costs of capacity utilization shocks that produce business cycle-like behavior.

Findings

Conservative calculations show that the costs of the capacity shocks can be large – about 1.5 percent of the present value of output over a 100-period horizon. The theoretical model also suggests that differences in the technology production and human capital accumulation functions, possibly due to differing institutions, may help explain diverse growth experiences.

Originality/value

The paper, for first time, combines two strands of the economic growth theory – endogenous technology and endogenous human capital production – into a single model. It uses the implications of the model to argue, through simulations, that the benefits of counter-cyclical policies are potentially large in the long run.

Details

Journal of Economic Studies, vol. 47 no. 2
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 1 June 2001

Serge Coulombe and Jean‐François Tremblay

Proposes an empirical analysis of regional convergence in Canada based on the growth model of Barro et al. In an open economy with perfect capital mobility, if domestic…

Abstract

Proposes an empirical analysis of regional convergence in Canada based on the growth model of Barro et al. In an open economy with perfect capital mobility, if domestic residents cannot borrow abroad with human capital as collateral, the dynamics of human capital accumulation is the driving force of per capita income growth. Empirical results indicate that, as predicted by the theoretical model, various indicators of the stock of human capital did converge at the same speed as per capita income during the 1951‐1996 period. A substantial part of the relative growth of per capita income indicators across Canadian provinces since the early 1950s could be explained by the convergence process of human capital indicators based on the percentage of the population, both sexes and males, who have at least a university degree. The estimates of the human capital share in national income based on those indicators are in the neighbourhood of 0.5, a number consistent with other measures of the implicit income share of human capital. The convergence speed of per capita income at the regional level might have been two to three times faster, if all persons had invested in education at the same rate as the young.

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Journal of Economic Studies, vol. 28 no. 3
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 1 March 2001

Thomas N. Garavan, Michael Morley, Patrick Gunnigle and Eammon Collins

Introduces the special issue “Human resource development: sectoral and invention‐level evidence of human capital accumulation”. Reviews the concepts and definitions of…

Abstract

Introduces the special issue “Human resource development: sectoral and invention‐level evidence of human capital accumulation”. Reviews the concepts and definitions of intellectual and human capital. Considers human capital from individual (employability, performance and career development) and organization (investment, ownership, skills and knowledge management) perspectives. Looks at each of the papers in the special issue, relating them to its theme. Highlights the implications for human resource development, both at individual and organizational levels.

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Journal of European Industrial Training, vol. 25 no. 2/3/4
Type: Research Article
ISSN: 0309-0590

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Book part
Publication date: 7 November 2011

Rémy Herrera

This chapter is a radical critique of the neoclassical growth theory, justifying ways out of mainstream economics. It has three parts. The first one analyzes growth…

Abstract

This chapter is a radical critique of the neoclassical growth theory, justifying ways out of mainstream economics. It has three parts. The first one analyzes growth theories from the Classical representation to the endogenous growth models. The second part demonstrates that the “new growth theory” is not a break with Solow's formalization. To prove it, we build an original Solowian endogenous growth model. Then, this neoclassical macrodynamic framework is technically, deeply critized in a third part. We show that both exogenous and endogenous neoclassical models prove to be incapable to explain growth in the long period. We concentrate on the ambiguities surrounding the hypothesis of single agent, as well as on the role of the state, in particular when it is considered as a “planner” by the neoclassicals. Endogenous growth models do not correspond to macrodynamization of the Walrasian general equilibrium, nor have solid microeconomic bases. We advocate in favor of rehabilitating state's intervention in social areas and of reactivating Marxist theoretical reflections regarding social planning and class analysis in the current time of structural crisis of the capitalist world system.

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Revitalizing Marxist Theory for Today's Capitalism
Type: Book
ISBN: 978-1-78052-255-5

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Article
Publication date: 30 August 2011

Jhumur Sengupta and Debnarayan Sarker

This paper aims to examine the impact of caste and religious diversity on human capital outcome and external effect of ethnic capital on human capital accumulation process…

Abstract

Purpose

This paper aims to examine the impact of caste and religious diversity on human capital outcome and external effect of ethnic capital on human capital accumulation process based on social fragmentation of West Bengal state which is mainly shaped under caste and religious lines.

Design/methodology/approach

A field survey was undertaken in which 440 respondents belonging to 440 households were interviewed in four municipalities of West Bengal – one each for most homogeneous and most heterogeneous along caste dimension and the equal number along religious line. For a cross sectional study during a one‐year period between January‐December 2006, this study considers stratified random sampling method (a mixture of both purposive and random sampling). In addition to construction of caste and a religion based fractionalization indexes, this study considers regression analyses of ordinary least square method in order to explore the stated objectives.

Findings

It suggests that more heterogeneous localities have lower outcome of per capita education after controlling the effect of per capita income. Moreover, the external effect of ethnic capital in heterogeneous localities has also lower outcome of human capital accumulation process.

Originality/value

The lower human capital accumulation in the heterogeneous localities along caste and religious dimensions might play an adverse effect on economic growth, crime, markets, technological breakthroughs and the arts and science. So, institutional measures by government and non‐government sources are needed to improve the stock of human capital, particularly in the heterogeneous localities influencing the positive impact on higher socio‐economic outcome in those localities.

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Article
Publication date: 5 November 2010

Adelina Broadbridge

The article aims to show how using the framework of social capital can be useful in understanding the careers of senior retail managers.

Abstract

Purpose

The article aims to show how using the framework of social capital can be useful in understanding the careers of senior retail managers.

Design/methodology/approach

A qualitative research design in the form of 17 biographical interviews with 11 men and six women was adopted to understand the perceived influence and active involvement of social capital factors in retail career development at senior levels.

Findings

Men and women were equally aware of the importance of accumulating social capital factors for career development purposes, although they considered that the accumulation of human capital factors to be crucial in their own career development. Evidence indicated that women and men had benefited from borrowing social capital early in their career. However, having reached senior status the ways and reasons women accumulate social capital seemingly differ from the men's. Overall, men acquired social capital and used networking techniques more strategically and instrumentally than the women with regard to career development purposes. Senior women talked about engaging in expressive networks for social support and to overcome macho cultures.

Research limitations/implications

The research is limited to 17 qualitative interviews and so cannot be generalised to the wider population. Rather, it is intended to instigate debate over the importance of social capital in careers.

Practical implications

The findings imply that gender impacts access to and accumulation of social capital for career development purposes. It highlights issues that need to be explored in more detail so as to enable a more complete understanding of the factors important for people's careers.

Originality/value

The paper contributes to an understanding of men's and women's career development in relation to social capital, an area that has received limited attention in the human resource and retail fields.

Details

Equality, Diversity and Inclusion: An International Journal, vol. 29 no. 8
Type: Research Article
ISSN: 2040-7149

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