Human capital;
Physical capital;
Growth;
Dual framework;
D O I:
10.1016/j.econmod.2008.04.008
中图分类号:
F [经济];
学科分类号:
02 ;
摘要:
The direct effect of human capital on economic growth has been widely analysed in the economic literature. This paper, however, focuses on its indirect effect as a stimulus for private investment in physical capital. The methodological framework used is the duality theory, estimating a cost system aggregated with human capital. Empirical evidence is given for Spain for the period 1980-2000. We provide evidence on the indirect effect of human capital in making private capital investment more attractive. Among the main explanations for this process, we observe that higher worker skill levels enable higher returns to be extracted from investment in physical capital. (C) 2008 Elsevier B.V. All rights reserved.
机构:
Univ Maryland, Robert H Smith Sch Business, College Pk, MD 20742 USAUniv Maryland, Robert H Smith Sch Business, College Pk, MD 20742 USA
Cheng, Shijun
Jiang, Wei
论文数: 0引用数: 0
h-index: 0
机构:
Jinan Univ, Dept Accounting, Ctr Management Accounting Res, Guangzhou, Guangdong, Peoples R ChinaUniv Maryland, Robert H Smith Sch Business, College Pk, MD 20742 USA
Jiang, Wei
Zeng, Yeqin
论文数: 0引用数: 0
h-index: 0
机构:
Univ Reading, Henley Business Sch, ICMA Ctr, Reading, Berks, EnglandUniv Maryland, Robert H Smith Sch Business, College Pk, MD 20742 USA