Topic
Capital deepening
About: Capital deepening is a research topic. Over the lifetime, 5203 publications have been published within this topic receiving 230297 citations.
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TL;DR: In this article, the authors show that the conditional external effect continually raises the rate of return on human capital and causes a demographic transition to economic growth by Malthusian countries.
187 citations
TL;DR: In this paper, the effects of human and technological capital on productivity in a sample of large French and Swedish firms were investigated, and they found evidence of positive interactions between these two types of capital.
185 citations
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TL;DR: In this article, the authors examined how interaction between endogenous human capital accumulation and technological change affects relative wages and economic growth, and provided a theoretical foundation for the empirically observed relation between technological change and relative demand, supply and wages of skilled labour.
Abstract: This paper examines how interaction between endogenous human capital accumulation and technological change affects relative wages and economic growth. Private incentives to invest in human capital finance the employment of skilled labour in the education sector, while non-rival technology is a by-product of the education process. The absorption of new technologies into production is skill intensive, creates skill-biased labour demand, and increases the relative wage of skilled to unskilled labour. In contrast to recent models of endogenous growth, higher rates of technological change and growth may be accompaniedb y a higherr elativew age but lower relative supply of skilled labour. Thus the model provides a theoretical foundation for the empirically observed relation between technological change and relative demand, supply and wages of skilled labour.
184 citations
TL;DR: The authors provided a new data set on per capita book production as a proxy for advanced literacy skills, and assessed this relative to other measures, finding that book production per capita is an indicator for more advanced capabilities.
Abstract: We provide a new data set on per capita book production as a proxy for advanced literacy skills, and assess this relative to other measures. While literacy proxies very basic skills, book production per capita is an indicator for more advanced capabilities. Growth theory suggests that human capital formation plays a significant role in creating the ‘wealth of nations.’ This study tests whether human capital formation has an impact on early-modern growth disparities. In contrast to some previous studies which denied the role of human capital as a crucial determinant of long-term growth, we confirm its importance.
183 citations
TL;DR: In this article, the effects of local human capital on household-level rents and individual-level wages for a sample of Italian local labour markets were studied, supporting the idea that human capital generates positive externalities at the local level.
Abstract: The estimation of the effect of local human capital on wages only might not identify properly human capital spillovers. Appropriate identification requires considering the joint effect of local human capital on both wages and rents. Empirically, we study the effects of local human capital on household-level rents and individual-level wages for a sample of Italian local labour markets. Our results show a positive and robust effect of local human capital on rents, supporting the idea that human capital generates positive externalities at the local level. Our results also suggest that consumption and production externalities have a similar impact on wages.
183 citations