Abstract
In the extended Solow growth model of Mankiw et al. (1992), human capital has only permanent level and no growth effects. In the endogenous growth models human capital is a growth-improving variable. Human capital may have both a permanent level and a permanent growth effect, we show how both can be estimated with an extension to the Solow model.
Original language | English |
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Pages (from-to) | 59-62 |
Number of pages | 4 |
Journal | Applied Economics Letters |
Volume | 18 |
Issue number | 1 |
DOIs | |
Publication status | Published - 2011 |
Keywords
- India
- Solow growth model
- economic development
- human capital
- labor
- mathematical models