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: This paper developed a micro-foundation model linking institutions to human capital and found that improvements in the quality of institutions foster human capital accumulation, decrease income inequality and change the historical development path.
116 citations
Book•
01 Jan 1989
TL;DR: In this paper, the authors make the following conclusions: Exogenous increases do not seem to cause increases in the rate of technological change, but instead seem to be associated with lower rates of return to capital.
Abstract: There is substantial research about cross section and time series correlations between economic growth and various economic, social, demographic and political variables. After analyzing these correlations, the paper makes the following conclusions. Exogenous increases do not seem to cause increases in the rate of technological change, but instead seem to be associated with lower rates of return to capital. Increased openness to international trade speeds up growth and technological change as do an increase in scientists and engineers. Countries more open to trade have a higher level of investment and capital growth - which is not associated with a fall in the marginal product of capital. Countries that become more integrated with world markets seem to have a higher marginal product of capital. Increases in capital investment associated with a higher per capita GDP are associated with a fall in the marginal product of capital. Increases in capital investment associated with increases in trade are not. This suggests that policies to encourage more open trading may be as important to growth as additional foreign lending - especially in their cumulative effects - and at the same time enhance the efficient use of foreign loans.
116 citations
TL;DR: In this article, the authors evaluate the effectiveness of capital controls on capital inflows and find that a tightening of capital control on inflows depreciates the exchange rate and makes it less sensitive to external shocks.
115 citations
TL;DR: In this paper, a U-shaped relationship between agricultural intensification and farm household investment in renewable resource capital is established using a simple neoclassical type growth model including both man-made and natural capital as inputs to production.
115 citations
TL;DR: In this paper, the authors examined the effect of the composition of human capital on economic growth in China, using the Generalized Methods of Moments (GMM) method, and found that tertiary education plays a more important role than primary and secondary education on economic development.
115 citations