1887

n African Journal of Science, Technology, Innovation and Development - Human capital, R&D and endogenous occupational choice

Volume 2, Issue 2
  • ISSN : 2042-1338
  • E-ISSN: 2042-1346
This article is unavailable for purchase outside of Africa

 

Abstract

The paper explores the interaction between capital markets imperfections and the agents' occupations in a technologically non-advanced country. We then build a two-period overlapping-generations growth model with heterogeneous agents. We suppose that agents inherit ability and a technique of production from their parents. We show that when information in the capital markets is imperfect the occupational choices of agents are endogenous. We also find that there are two endogenous thresholds of ability which allow distinguishing lenders, R&D innovators and implementers who produce intermediate goods with lagged productivity. Finally, the growth rate and convergence depend both on the level and the structure of human capital. Capital markets influence economic growth and convergence through technology.

Loading full text...

Full text loading...

Loading

Article metrics loading...

/content/aa_ajstid/2/2/EJC10542
2010-01-01
2019-08-20

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error