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Human capital and growth in japan since 1970: converging to the steady state in a 1% world.

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dc.contributor.authorBreton, Theodore R.
dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.creator.emailtbreton@eafit.edu.co
dc.creator.emailted.breton@gmail.com
dc.date.accessioned2013-03-07T21:21:17Z
dc.date.available2014-11-20
dc.date.available2013-03-07T21:21:17Z
dc.date.issued2014-11-20
dc.description.abstractAnnual growth in GDP/adult in Japan has declined from over 10% in 1969 to an average of 1% since the financial crisis in 1991. I show that a dynamic Solow growth model, augmented with human capital, weekly labor-hours, and oil prices, explains Japan’s annual growth rates from 1969 to 2007 as conditional convergence to a steady-state rate of 1%/year. Each additional year of average adult schooling attainment raised GDP/adult directly and indirectly by 20 percent, and weekly hours worked had an output elasticity of 0.5. The marginal product of schooling was double the marginal product of physical capital.eng
dc.format.mimetypeapplication/pdf
dc.identifier.instnameinstname:Universidad EAFIT
dc.identifier.jelI25
dc.identifier.jelO41
dc.identifier.jelO53
dc.identifier.reponamereponame:Repositorio Institucional Universidad EAFIT
dc.identifier.repourlrepourl:https://repository.eafit.edu.co
dc.identifier.urihttps://hdl.handle.net/10784/549
dc.language.isoeng
dc.publisherUniversidad EAFITspa
dc.publisher.departmentCentro Valor Públicospa
dc.publisher.facultyEscuela de Economía y Finanzasspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.subject.keywordJapaneng
dc.subject.keywordHuman Capitaleng
dc.subject.keywordSchoolingeng
dc.subject.keywordProductivityeng
dc.subject.keywordEconomic Growtheng
dc.subject.keywordConvergenceeng
dc.titleHuman capital and growth in japan since 1970: converging to the steady state in a 1% world.eng
dc.typeinfo:eu-repo/semantics/workingPaper
dc.type.coarhttp://purl.org/coar/resource_type/c_8042
dc.type.localDocumento de trabajo de investigaciónspa
dc.type.redcolhttp://purl.org/redcol/resource_type/WP
dc.type.versioninfo:eu-repo/semantics/draft
dspace.entity.typePublication

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