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On the Mechanics of Economic Development
Robert E. Lucas Jr. University of Chicago - Department of Economics; National Bureau of Economic Research (NBER) May 1989 NBER Working Paper No. R1176 Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing. Working Paper Series Date posted: June 19, 2004 ; Last revised: June 19, 2004Suggested CitationContact Information
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