Investment and human capital externalities: knowledge spillovers
type: CreativeWork
description: The more general concept of human capital includes any characteristic associated with the individual to provide a productivity differential. However, more often, this concept is reduced to education and experience of individuals. Much of the research begins with the assumption that there are human capital externalities and that these effects is positive. But, few are the authors that measure this externality and do not show how a social planner would act to internalize the distortions caused by the action of the market, while maximizing the welfare of those involved in this economy. The general goal is investigate size and sources of externalities in human capital accumulation and Pareto inefficiency generate in the competitive equilibrium. More specifically aims to: Analyzing decisions of households of investing in human capital and trade-offs faced by these agents; Investigating complementarity between physical and human capital in technology and its implications for human capital investment; Examining the Pareto inefficiency created by externalities in human capital; Comparing Pareto inefficiency with “the first best” set of allocations through a Social Planner Problem. It is important to study the effects generated by human capital because the impacts that these effects can generate economic growth and increasing welfare agents. Thus, it is important to measure what the optimal level of investment in human capital that will bring growth to a long-run equilibrium point (steady state) and, at the same time, generate public policy implications. To do this, we used the four countries called ”Four Asian Tigers” (South Korea, Singapore, Hong Kong and Taiwan) in this study. These countries were chosen because they made a leap in development generated by the high investment in education since 1960, increasing the levels of human capital and GDP per capita in these countries. In the theoretical model we assume that there are three generations in each period: children, ad…
abstract: The more general concept of human capital includes any characteristic associated with the individual to provide a productivity differential. However, more often, this concept is reduced to education and experience of individuals. Much of the research begins with the assumption that there are human capital externalities and that these effects is positive. But, few are the authors that measure this externality and do not show how a social planner would act to internalize the distortions caused by the action of the market, while maximizing the welfare of those involved in this economy. The general goal is investigate size and sources of externalities in human capital accumulation and Pareto inefficiency generate in the competitive equilibrium. More specifically aims to: Analyzing decisions of households of investing in human capital and trade-offs faced by these agents; Investigating complementarity between physical and human capital in technology and its implications for human capital investment; Examining the Pareto inefficiency created by externalities in human capital; Comparing Pareto inefficiency with “the first best” set of allocations through a Social Planner Problem. It is important to study the effects generated by human capital because the impacts that these effects can generate economic growth and increasing welfare agents. Thus, it is important to measure what the optimal level of investment in human capital that will bring growth to a long-run equilibrium point (steady state) and, at the same time, generate public policy implications. To do this, we used the four countries called ”Four Asian Tigers” (South Korea, Singapore, Hong Kong and Taiwan) in this study. These countries were chosen because they made a leap in development generated by the high investment in education since 1960, increasing the levels of human capital and GDP per capita in these countries. In the theoretical model we assume that there are three generations in each period: children, ad…
author: Alves, Frederick Fagundes
language: eng
keywords: Capital humano, Equilíbrio competitivo
date published: 2017-09-04
date modified: 2026-07-24T01:21:12Z
provider: Brazil UFV
publisher: Networked Digital Library of Theses and Dissertations
type: WebPage
source organization: Universidade Federal de Viçosa