Abstract

http://ssrn.com/abstract=637462
 
 

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Education, Technological Progress and Economic Growth


Winston T.H. Koh


Singapore Management University - School of Economics & Social Sciences

Hing Man Leung


Singapore Management University - School of Economics & Social Sciences

July 28, 2003



Abstract:     
An important role of education - and the resultant accumulation of human capital - for a less-developed economy is to facilitate technology diffusion in order for it to catch up with developed economies. This paper presents a model linking education, the accumulation of physical capital and technological progress. In the model, investment in education and the accumulation of physical capital are complementary, and intertwine with the technology progress through related effects on technology diffusion and the expansion of the technology frontier. The allocation of effort to education, the optimal savings rate and the technology gap are endogenously determined in the steady-state balanced growth equilibrium.

Number of Pages in PDF File: 29

Keywords: Education, human capital, technological progress

JEL Classification: O1, O3

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Date posted: December 29, 2004  

Suggested Citation

Koh, Winston T.H. and Leung, Hing Man, Education, Technological Progress and Economic Growth (July 28, 2003). Available at SSRN: http://ssrn.com/abstract=637462 or http://dx.doi.org/10.2139/ssrn.637462

Contact Information

Winston T.H. Koh (Contact Author)
Singapore Management University - School of Economics & Social Sciences ( email )
469 Bukit Timah Road
Federal Building #02-08
Singapore, 259756
Singapore
+65 6822 0853 (Phone)
+65 6822 0833 (Fax)
Hing-Man Leung
Singapore Management University - School of Economics & Social Sciences ( email )
469 Bukit Timah Road
Federal Building #02-05
Singapore, 259756
Singapore
+65 6822 0717 (Phone)
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