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2010•Applied Economics LettersRequires access

The level and growth effects of human capital in India

B. Bhaskara Rao, Krishna Chaitanya Vadlamannati

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Abstract

In the extended Solow growth model of Mankiw et al. (1992 Mankiw, N. G., Romer, D. and Weil, D. N. 1992. A contribution to the empirics of economic growth. Quarterly Journal of Economics, 107: 407–37. [Crossref], [Web of Science ®] , [Google Scholar]), human capital has only permanent level and no growth effects. In the endogenous growth models human capital is a growth-improving variable. Human capital may have both a permanent level and a permanent growth effect, we show how both can be estimated with an extension to the Solow model.

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What this paper is about

In the extended Solow growth model of Mankiw et al. (1992 Mankiw, N. G., Romer, D. and Weil, D. N. 1992. A contribution to the empirics of economic growth. Quarterly Journal of Economics, 107: 407–37. [Crossref], [Web of Science ®] , [Google Scholar]), human capital has only permanent level and no growth effects. In the endogenous growth models human capital is a growth-improving variable. Human capital may have both a permanent level and a permanent growth effect, we show how both can be estimated with an extension to the Solow model.

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OpenAlex reports 11 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

In the extended Solow growth model of Mankiw et al. (1992 Mankiw, N. G., Romer, D. and Weil, D. N. 1992. A contribution to the empirics of economic growth. Quarterly Journal of Economics, 107: 407–37. [Crossref], [Web of Science ®] , [Google Scholar]), human capital has only permanent level and no growth effects. In the endogenous growth models human capital is a growth-improving variable. Human capital may have both a permanent level and a permanent growth effect, we show how both can be estimated with an extension to the Solow model.

Key concepts: Romer, Endogenous growth theory, Human capital, Economics, Growth model, Extension (predicate logic), Variable (mathematics), Econometrics

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