Publication Type
Book Chapter
Version
submittedVersion
Publication Date
2005
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
Publication
Focus on Macroeconomics Research
First Page
1
Last Page
25
ISBN
9781594541247
Publisher
Nova Science
City or Country
New York
Citation
KOH, Winston T. H. and LEUNG, Hing-Man.
Education, Technological Progress and Economic Growth. (2005). Focus on Macroeconomics Research. 1-25.
Available at: https://ink.library.smu.edu.sg/soe_research/1210
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.
Additional URL
https://worldcat.org/isbn/9781594541247
Included in
Education Commons, Growth and Development Commons, Macroeconomics Commons, Technology and Innovation Commons