Specific and general human capital in an endogenous growth model

0455398 - NHU-C 2016 RIV US eng J - Článek v odborném periodiku
Jerbashian, Vahagn - Slobodyan, Sergey - Vourvachaki, E.
Specific and general human capital in an endogenous growth model.
Eastern European Economics. Roč. 53, č. 3 (2015), s. 167-204. ISSN 0012-8775. E-ISSN 1557-9298
Institucionální podpora: PRVOUK-P23
Klíčová slova: economic growth * human capital types * education policy
Kód oboru RIV: AH - Ekonomie
Impakt faktor: 0.404, rok: 2015

In this article, we define specific (general) human capital in terms of the occupations whose use is spread in a limited (wide) set of industries. We analyze the growth impact of an economy’s composition of specific and general human capital, in a model where education and research and development are costly and complementary activities. The model suggests that a declining share of specific human capital, as observed in the Czech Republic, can be associated with a lower rate of long-term growth. We also discuss optimal educational policies in the presence of market frictions.
Trvalý link: http://hdl.handle.net/11104/0256015