Public education, technological change and economic prosperity: semi-endogenous growth revisited

Konferenzbeitrag

We introduce publicly funded education into R&D based economic growth theory. Our framework allows us to i) explicitly describe a realistic process of human capital accumulation within these types of growth models, ii) reconcile semi-endogenous growth theory with the empirical evidence on the relationship between economic development and population growth, iii) revise the policy invariance result of semi-endogenous growth frameworks. In particular, we show that the model supports a negative (positive) association between economic growth and population growth if the education sector is well (badly) developed and that changes of public investments into education crucially affect the long-run balanced growth path.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2012: Neue Wege und Herausforderungen für den Arbeitsmarkt des 21. Jahrhunderts - Session: Long-Term Labor Market Outcomes, Ageing ; No. F08-V2

Classification and Topics

• Classification: Wirtschaft ; Human Capital; Skills; Occupational Choice; Labor Productivity ; Macroeconomic Analyses of Economic Development ; One, Two, and Multisector Growth Models

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Prettner, Klaus
• Event: Veröffentlichung
• (when): 2012

Further information

• Handle: http://hdl.handle.net/10419/65414
• Last update: 10.03.2025, 11:42 AM CET