Hierarchical Human Capital and Economic Growth: Theory and Evidence
Andrew W. Horowitz and
Fabio Mendez ()
Journal of Institutional and Theoretical Economics (JITE), 2009, vol. 165, issue 4, 723-743
We embed an N-level human-capital hierarchy in a growth model and demonstrate that the hierarchical structure generates an optimal investment program with phases of stock depletion and expansion in the stocks of the various levels of humancapital. We then take the implications of the model to data from a diverse sample of countries and find patterns of stock expansion and contraction consistent with the theoretical model. We also illustrate how allowing for hierarchical human-capital formation might contribute to the empirical growth literature.
JEL-codes: O1 O15 O4 O21 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed
Downloads: (external link)
https://www.mohrsiebeck.com/en/article/hierarchica ... 28093245609789919612 (text/html)
Fulltext access is included for subscribers to the printed version.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:mhr:jinste:urn:sici:0932-4569(200912)165:4_723:hhcaeg_2.0.tx_2-x
Ordering information: This journal article can be ordered from
Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
Access Statistics for this article
Journal of Institutional and Theoretical Economics (JITE) is currently edited by Gerd Mühlheußer and Bayer, Ralph-C
More articles in Journal of Institutional and Theoretical Economics (JITE) from Mohr Siebeck, Tübingen
Bibliographic data for series maintained by Thomas Wolpert ().