40 Pages Posted: 19 Jun 2004
Date Written: May 1989
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.
Suggested Citation: Suggested Citation
Lucas, Robert E., On the Mechanics of Economic Development (May 1989). NBER Working Paper No. R1176. Available at SSRN: https://ssrn.com/abstract=227120
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