Human capital and growth in japan since 1970: converging to the steady state in a 1% world.
| dc.contributor.author | Breton, Theodore R. | |
| dc.coverage.spatial | Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees | eng |
| dc.creator.email | tbreton@eafit.edu.co | spa |
| dc.creator.email | ted.breton@gmail.com | spa |
| dc.date.accessioned | 2013-03-07T21:21:17Z | |
| dc.date.available | 2014-11-20 | |
| dc.date.available | 2013-03-07T21:21:17Z | |
| dc.date.issued | 2014-11-20 | |
| dc.description.abstract | Annual 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.identifier.jel | I25 | |
| dc.identifier.jel | O41 | |
| dc.identifier.jel | O53 | |
| dc.identifier.uri | http://hdl.handle.net/10784/549 | |
| dc.language.iso | eng | eng |
| dc.rights.accessrights | info:eu-repo/semantics/openAccess | eng |
| dc.rights.local | Acceso abierto | spa |
| dc.subject.keyword | Japan | eng |
| dc.subject.keyword | Human Capital | eng |
| dc.subject.keyword | Schooling | eng |
| dc.subject.keyword | Productivity | eng |
| dc.subject.keyword | Economic Growth | eng |
| dc.subject.keyword | Convergence | eng |
| dc.title | Human capital and growth in japan since 1970: converging to the steady state in a 1% world. | eng |
| dc.type | workingPaper | eng |
| dc.type | info:eu-repo/semantics/workingPaper | eng |
| dc.type.hasVersion | draft | eng |
| dc.type.local | Documento de trabajo de investigación | spa |
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