Human Capital Composition, R&D and the Increasing Role of Services

Tiago Sequeira and Ana Reis

The B.E. Journal of Macroeconomics, 2006, vol. 6, issue 1, 1-25

Abstract: We relate the negative correlation between income and the ratio of high to low-tech human capital and the positive correlation between income and investment on R&D, both present in developed countries, to the transition to a services economy. To this end a growth model with endogenous innovation and accumulation of high-tech and low-tech human capital is developed. We consider a negative effect of technological development on the accumulation of high-tech human capital and that services are relatively intensive in low-tech human capital. We confirm the model implications quantitatively in a calibration exercise.

Keywords: human capital composition; high-tech human capital; R&D; services (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (6)

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Working Paper: Human capital composition, R&D and the increasing role of services (2004)
Working Paper: Human Capital Composition, R&D and the Increasing Role of Services (2004)
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DOI: 10.2202/1534-5998.1343

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