A GENERAL EQUILIBRIUM SKILL ACQUISITIONS MODEL OF DEVELOPMENT FOR LESOTHO

Mamit Deme, David Franck () and Nadeem Naqvi
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Mamit Deme: Middle Tennessee State University
David Franck: Francis Marion University

Journal of Economic Development, 2005, vol. 30, issue 1, 15-29

Abstract: Dual economy, large unemployment, a fixed number of skilled workers, perfect capital mobility, migrant labor force working in South African gold mines, and a cycle of poverty characterize Lesotho. This paper develops a general equilibrium model for Lesotho specifying these absorbing economic characteristics. We are particularly interested in constructing a rising step skill acquisition function, which shows that small infusions of human-capital investment would not pull the economy out of its poverty trap, but a large infusion would.

Keywords: Lesotho; Skill Acquisition; Human Capital; Economic Development; General Equilibrium (search for similar items in EconPapers)
JEL-codes: D5 F2 O1 O2 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:jed:journl:v:30:y:2005:i:1:p:15-29

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