Human Capital Stock and Flow and Economic Growth Analysis: Note
Kevin T. McNamara, Warren Kriesel, Brady J. Deaton
Abstract
Kevin T. McNamara, Warren Kriesel, Brady J. Deaton
Abstract
ABSTRACT Human capital is becoming recognized as an increasingly important factor in rural economic development. Economic research, however, has not provided clear empirical support of the relationship between human capital investment and economic growth. This paper applies stock and flow concepts to human capital and suggests an operational approach for applying stock and flow concepts to the analysis of the impact of human capital investments through education on economic growth.
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ABSTRACT Human capital is becoming recognized as an increasingly important factor in rural economic development. Economic research, however, has not provided clear empirical support of the relationship between human capital investment and economic growth. This paper applies stock and flow concepts to human capital and suggests an operational approach for applying stock and flow concepts to the analysis of the impact of human capital investments through education on economic growth.
Key concepts: Human capital, Capital deepening, Physical capital, Economic capital, Economics, Financial capital, Stock (firearms), Investment (military)