Human capital investment and growth: A dynamic education model
Mohamed Ben Mimoun () and
Raies Asma ()
MPRA Paper from University Library of Munich, Germany
The paper aims to explicitly determine the distribution of human capital across hierarchic educational stages along the transition process, and to analyse the determinants of its evolution. We apply optimal control principles in a model of endogenous growth with two successive stages of education. We show that with initial relative scarcity of advanced human capital, the duration of studies at the advanced level should increase until reaching its equilibrium level. We also find that, by raising the duration of studies at the advanced schooling level, improvements in the quality of education at this level also enhances the economy’s growth rate, both in the transition and in the long-run.
Keywords: Human capital investment; growth; a dynamic model (search for similar items in EconPapers)
JEL-codes: H52 J24 O40 (search for similar items in EconPapers)
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Published in Journal of Business Affairs Issue 1.Volume(2008): pp. 1-22
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Working Paper: Human Capital Investment and Growth: A Dynamic Education Model (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:9374
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