On the Mechanics of Economic Development

@inproceedings{Lucas1988OnTM,
  title={On the Mechanics of Economic Development},
  author={R. Lucas},
  year={1988}
}
  • R. Lucas
  • Published 1988
  • Economics
  • This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing. 

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