A diverse array of factors may influence both earnings and consumption; however, this work primarily focuses on the impact of investments in human capital upon an individual's potential earnings and psychic income. For this study, investments in human capital include such factors as educational level, on-the-job skills training, health care, migration, and consideration of issues regarding regional prices and income. Taking into account varying cultures and political regimes, the research indicates that economic earnings tend to be positively correlated to education and skill level. Additionally, studies indicate an inverse correlation between education and unemployment. Presents a theoretical overview of the types of human capital and the impact of investment in human capital on earnings and rates of return. Then utilizes empirical data and research to analyze the theoretical issues related to investment in human capital, specifically formal education. Considered are such issues as costs and returns of investments, and social and private gains of individuals. The research compares and contrasts these factors based upon both education and skill level. Areas of future research are identified, including further analysis of issues regarding social gains and differing levels of success across different regions and countries. (AKP)

Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education, First Edition

Why do growth rates differ? This paper surveys the recent empirical literature on economic growth, starting with a discussion of stylized facts, data problems, and statistical methods. Six research questions are emphasized, drawing on growth and convergence research. In answering these questions, the paper argues that efficiency has grown at different rates across countries, casting doubt on neoclassical models in which technology is a public good. The latter half of the paper rounds up a variety of findings before providing answers to all six questions, including a short summary of how differences in growth rates arise.

The New Growth Evidence

The impact of digital technology usage on economic growth in Africa.

In this book, Franklin Obeng-Odoom seeks to carefully explain, engage, and systematically question the existing explanations of inequalities within Africa, and between Africa and the rest of the world using insights from the emerging field of stratification economics. Drawing on multiple sources - including archival and historical material and a wide range of survey data - he develops a distinctive approach that combines key concepts in original institutional economics, such as reasonable value, property, and the distribution of wealth, with other insights into Africa's development and underdevelopment. While looking at the Africa-wide situation, Obeng-Odoom also analyzes the experiences of inequalities within specific countries. Comprehensive and engaging, Property, Institutions, and Social Stratification in Africa is a useful resource for teaching and research on Africa and the Global South.

Property, Institutions, and Social Stratification in Africa

The primary condition of growth is immaturity. This may seem to be a mere truism saying that a being can develop only in some point in which he is undeveloped. But the prefix \"im\" of the word immaturity means something positive, not a mere void or lack. It is noteworthy that the terms \"capacity\" and \"potentiality\" have a double meaning, one sense being negative, the other positive. Capacity may denote mere receptivity, like the capacity of a quart measure. We may mean by potentiality a merely dormant or quiescent state a capacity to become something different under external influences. But we also mean by capacity an ability, a power; and by potentiality potency, force. Now when we say that immaturity means the possibility of growth, we are not referring to absence of powers which may exist at a later time; we express a force positively present the ability to develop.

Education as Growth

Murphy G. and Siedschlag I. Human capital and growth of information and communication technology-intensive industries: empirical evidence from open economies, Regional Studies. This paper examines the effect of human capital on the growth of information and communication technology (ICT)-intensive industries using data from a sample of open economies over the period 1980–1999. The econometric analysis suggests that value added and employment in ICT-intensive industries grew relatively faster in countries with a higher ex-ante human capital stock and in countries with a fast improvement in human capital. Further, in countries with fast human capital accumulation, labour productivity in ICT-intensive industries grew faster. The results are robust to controls for other determinants of industry growth and country characteristics affecting industry specialization and to using alternative human capital measures.

/pdf/human-capital-and-growth-of-information-and-communication-1at42euewd.pdf

Human Capital and Growth of Information and Communication Technology-intensive Industries: Empirical Evidence from Open Economies

We examine the effect of changes in international competitiveness on labour productivity growth through three channels: (i) export, (ii) import, and (iii) import competition. Using micro data from the Irish manufacturing over the period 1995-2002, we account for firms' heterogeneity in their exposure to international competitive pressure. Our econometric estimates indicate that a real exchange rate appreciation had a negative effect on labour productivity growth once a firm's export exposure was greater than 14 per cent. When a firm's import exposure exceeded 33 per cent, a real exchange rate appreciation had a positive effect on labour productivity. An increase in import competition due to a real exchange rate appreciation had no effect on a firm's labour productivity growth.

/pdf/the-effect-of-real-exchange-rate-changes-on-labour-46e3uvzqf8.pdf

The Effect of Real Exchange Rate Changes on Labour Productivity Growth

An important component of the NEUJOBS project is its interaction with the policy community. The project is pursuing several avenues to ensure its results are properly “translated” and communicated to such audiences. One of them are policy briefs. This Policy Brief contains policy implications on labour relations and modes of employment (Work Package 6), a collaborative EU-funded research project. NEUJOBS Working Documents are intended to give an indication of work being conducted within the NEUJOBS research project and to stimulate reactions from other experts in the field. The views expressed in this paper are those of the author and do not necessarily represent any institution with which he is affiliated. See the back page for more information about the NEUJOBS project.

/pdf/labour-relations-and-modes-of-employment-2z2wlekm40.pdf

Labour relations and modes of employment

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Human Capital and Growth of Information and Communication Technology-intensive Industries: Empirical Evidence from Open Economies

The Effect of Real Exchange Rate Changes on Labour Productivity Growth

Labour relations and modes of employment