Human Capital and Labour Productivity, Integration of Institutions and Endogenous Growth

Lei Delsen and Mark Schonewille ()
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Lei Delsen: University of Nijmegen

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Abstract: This paper is part of a project that attempts to reveal the way labour market institutions, human capital and labour productivity are interconnected. First we discuss two approaches in the human capital theory, stressing some difficulties that could be solved if the approaches are combined. It is argued that the Nelson-Phelps approach could be improved by adding elements from the Lucas model. We think that the production factor of human capital needs a more detailed description than usual in empirical research, e.g. further schooling and training, experience and external effects. Empirical tests show that the frequently obtained conclusion that investments in higher education are too low are doubtful. The tests also show the importance of further education and training, especially on-the-job training.

Keywords: human capital; labour productivity; specificity; turnover; labour markets; education; off-the-job training; on-the-job training; models; experience; learning by doing (search for similar items in EconPapers)
JEL-codes: J24 J41 J63 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eff and nep-lab
Date: 1999-08-05
Note: Type of Document - Acrobat Reader *.pdf; prepared on PC and Macintosh; to print on Postscript; pages: 21; figures: Empirical results in tables. Paper for the EALE conference in Regensburg, 23-26 September, 1999.
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwphe:9908001

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