Human Capital Formation, Learning by Doing and the Government in the Process of Economic Growth

19 Pages Posted: 6 Jan 2012

See all articles by Alfred Greiner

Alfred Greiner

Bielefeld University - Department of Business Administration and Economics

Multiple version iconThere are 2 versions of this paper

Date Written: February 2012

Abstract

We present an endogenous growth model with human capital and learning by doing. Human capital is not an input factor in the production process of final output but it affects the ability to build up knowledge capital as a by‐product of cumulated investment (learning by doing). Human capital is formed in the schooling sector that is financed by the government. The government may run into debt but obeys the inter‐temporal budget constraint. The article analyzes the structure of the model and studies the effects of different budgetary policies as regards the balanced growth rate, transition dynamics and with respect to welfare.

Suggested Citation

Greiner, Alfred, Human Capital Formation, Learning by Doing and the Government in the Process of Economic Growth (February 2012). Scottish Journal of Political Economy, Vol. 59, No. 1, February 2012, Available at SSRN: https://ssrn.com/abstract=1980567 or http://dx.doi.org/10.1111/j.1467-9485.2011.0569.x

Alfred Greiner (Contact Author)

Bielefeld University - Department of Business Administration and Economics ( email )

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