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Steps in Industrial Development through Human Capital Deepening
Economic Modelling ( IF 3.875 ) Pub Date : 2021-03-10 , DOI: 10.1016/j.econmod.2021.02.011
Max Gillman

This paper presents a model in which human capital is deepened, education time increases, and labor shifts away from agriculture. These notable trends in industrial development accompany incremental steps upward in the level of education productivity. As education grows, human capital becomes relatively abundant and industries react by deepening their investment in human capital. Industries that use human capital relatively more intensively experience relatively lower prices and higher output. New industries are assumed to emerge in step with education productivity. Each new industry is assumed to have a relatively higher human capital factor share. As human capital deepening occurs, labor shifts toward the new industry and away from traditional industry. I delineate these features by extending a well-known model of endogenous economic growth through human capital investment. The extension disaggregates output into separate industries with different shares of the human capital factor. This enables trademark features of industrial development. The model explains rising education levels, growth, and labor reallocation using a minimally complex approach that jointly explains stylized facts through human capital deepening within each industry.



中文翻译:

通过人力资本深化实现产业发展的步骤

本文提出了一种模型,在该模型中,人力资本得到了深化,教育时间增加了,劳动力从农业转移了出去。工业发展中的这些显着趋势伴随着教育生产力水平的逐步提高。随着教育的发展,人力资本变得相对丰富,产业通过加深对人力资本的投资来做出反应。相对密集地使用人力资本的行业会经历相对较低的价格和较高的产出。假定新兴产业将与教育生产力同步发展。假定每个新行业都具有相对较高的人力资本因子份额。随着人力资本的不断深化,劳动力向新产业转移而从传统产业转移。我通过扩展著名的通过人力资本投资进行的内生经济增长模型来描述这些特征。该扩展将输出分解为具有不同人力资本因素份额的不同行业。这可以实现工业发展的商标特征。该模型使用最低限度复杂的方法解释了教育水平,增长和劳动力的重新分配,该方法通过深化每个行业内的人力资本来共同解释程式化的事实。

更新日期:2021-03-10
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