Human Capital and Growth: Theory and Evidence

  title={Human Capital and Growth: Theory and Evidence},
  author={Paul M. Romer},
  • Paul M. Romer
  • Published 1989
  • Economics
  • This paper outlines a theoretical framework for thinking about the role of human capital in a model of endogenous growth. The framework pays particular attention to two questions: What are the theoretical differences between intangibles like education and experience on the one hand, and knowledge or science on the other? and How do knowledge and science actually affect production? One implication derived from this framework is that the initial level of a variable like literacy may be important… CONTINUE READING
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