The Generalized Model of Economic Growth with Human Capital Accumulation

Yury A. Kuznetsov and Olga V.Michasova

DEGIT Conference Papers from DEGIT, Dynamics, Economic Growth, and International Trade

Abstract: In this paper we proposed and study the generalized model of economic growth with human capital accumulation. The existence of a balanced growth path (BGP, the trajectory with constant growth rates of all variables) can be proved for the model. The paper identifies the conditions of existence and some qualitative features of the paths. The study of the BGP qualitative features, as well as the detailed study of the structure of the phase space in a neighborhood of a steady-state for the set of parameters which are typical for the developed economies, were carried out using numerical and analytical methods with MatLab.

Keywords: Economic Growth; Human Capital; Balanced Growth Path (search for similar items in EconPapers)
Pages: 10 pages
Date: 2011-09
New Economics Papers: this item is included in nep-dge and nep-fdg
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Persistent link: https://EconPapers.repec.org/RePEc:deg:conpap:c016_050

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