The role of human capital in economic growth

Resumo

This study presents stylized facts for economic growth for the second half of the 20th century, and evaluates the explanatory capacity of these facts by two of the main theoretical approaches that deal with the relation between human capital and growth: the Lucas (1988) model, and the Nelson and Phelps (1966) model. The results obtained indicate that the Lucas (1988) model satisfactorily explains the growth of 'rich' countries, but does not explain the poverty traps in which poor countries found themselves during the period under study. Conversely, the simulations conducted according to the Nelson - Phelps approach (1966) adequately replicate the poverty traps, but the approach is unable to do so for rich country dynamics. © 2005 Taylor & Francis Group Ltd.

Ficha do documento

Tipo

Artigo científico

Ano

2005

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Inglês

Acesso

Acesso restrito

DOI

10.1080/13504850500077013

Identificador

oai:repositorio.fgv.br:10438/25308

Temas

EconomiaDesenvolvimento Econômico

Palavras-chave

Economic growthGrowth rateHuman capitalPovertyCapital humanoDesenvolvimento econômico