Publication Type
Working Paper
Version
publishedVersion
Publication Date
1-2003
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
Keywords
Education, human capital, technological progress, growth theory
Discipline
Education | Growth and Development | Macroeconomics | Technology and Innovation
Research Areas
Macroeconomics
First Page
1
Last Page
28
Publisher
SMU Economics and Statistics Working Paper Series, No. 01-2003
City or Country
Singapore
Citation
KOH, Winston T. H. and LEUNG, Hing-Man.
Education, Technological Progress and Economic Growth. (2003). 1-28.
Available at: https://ink.library.smu.edu.sg/soe_research/1184
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Included in
Education Commons, Growth and Development Commons, Macroeconomics Commons, Technology and Innovation Commons
Comments
Published in Focus on macroeconomics research, 2005, New York: Nova Science, pp. 1-25. ISBN 9781594541247