Human Capital, Trade, and Economic Growth

Human capital, because of its special role in innovative activity and technological progress, has formed the bedrock of the new theories of endogenous growth. However, it not only serves as an engine of growth but also as a productive input along with labor and physical capital. In this study, the a...

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Bibliographic Details
Published in:Weltwirtschaftliches Archiv 1995-01, Vol.131 (3), p.425-445
Main Authors: Gould, David M., Ruffin, Roy J.
Format: Article
Language:English
Subjects:
Closed economies
Economic growth
Economic growth models
Economic growth rate
Economic growth theories
Endogenous growth theory
Human capital
Human resources
Labour
Literacy
Literacy rates
Structural capital
Trade
Trade development
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Summary:Human capital, because of its special role in innovative activity and technological progress, has formed the bedrock of the new theories of endogenous growth. However, it not only serves as an engine of growth but also as a productive input along with labor and physical capital. In this study, the authors find evidence of the importance of both roles of human capital. They also find that the relationship between growth and the external effects of human capital vary according to trade regime. When literacy rates are relatively high, open economies grow about 0.65 to 1.75 percentage points more than closed economies. /// Wegen seiner besonderen Rolle bei Innovationen und technologischem Fortschritt bildet das Humankapital die Grundlage der neuen Theorien über endogenes Wachstum. Es dient aber nicht nur als Antriebskraft für das Wachstum, sondern ist auch ein produktiver Input wie Arbeit und physisches Kapital. In dieser Untersuchung finden die Autoren Anhaltspunkte für die Bedeutung der beiden Rollen des Humankapitals. Sie stellen außerdem fest, daß die Beziehung zwischen Wachstum und den externen Effekten des Humankapitals mit der Art des Außenhandelsregimes variiert. Bei relativ hohem Alphabetisierungsgrad wachsen offene Volkswirtschaften um 0,65 bis 1,75 Prozentpunkte schneller als geschlossene Volkswirtschaften.
ISSN:0043-2636
1610-2886
DOI:10.1007/BF02707911