Missing Markets for Human Capital and Differences in Growth
Bibliographic Data
| ID | 9726841 |
|---|---|
| Authors | Fernando Perera‐Tallo (Universidad de La Laguna, corresponding author) |
| Year | 2005 |
| Volume | 72 |
| Issue | 286 |
| Pages | 241-265 |
| Publication date | 2005-05-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.0013-0427.2005.00413.x |
| OpenAlex | W2123326913 |
| Language | EN |
| References cited | 27 |
Standard growth models predict that consumption and GNP growth rates should not differ among countries when international capital markets are considered. This paper introduces a generational structure which implies that the return on human capital exceeds the return on physical capital in equilibrium. Thus, when the return on human capital differs internationally, the growth rates of consumption and GNP vary across countries even when there is free capital mobility. Furthermore, GNP and GDP grow at the same rate within a country, there is positive investment in every country, and poverty traps persist in spite of international capital markets
Capital (architecture) · Capital Consumption Allowance · Capital deepening · Capital formation · Consumption (sociology) · Economics · Financial capital · Geography · Human capital · Investment (military) · Investment performance · Macroeconomics · Market economy · Monetary economics · Physical capital · Production (economics) · Rate of return · Return of capital · Return on investment · Economic Growth and Productivity · Finance · Fiscal Policy and Economic Growth · Regional Development and Policy
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Empirics for Growth and Distribution
Income Distribution and Macroeconomics
Optimum Technical Change in An Aggregative Model of Economic Growth
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Handbook Of Development Economics
Returns to Education
Economic underdevelopment
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Are Government Bonds Net Wealth
Long-Run Policy Analysis and Long-Run Growth
Increasing Returns and Long-Run Growth
Government Debt, Human Capital, and Bequests in a Life-Cycle Model
Endogenous Technological Change
Twin Peaks
Returns to investment in education
| Citation velocity | historical |
|---|---|
| Highly cited | No |