Jump to ContentJump to Main Navigation
Human Capital and Economic Growth$
Users without a subscription are not able to see the full content.

Andreas Savvides and Thanasis Stengos

Print publication date: 2008

Print ISBN-13: 9780804755405

Published to Stanford Scholarship Online: June 2013

DOI: 10.11126/stanford/9780804755405.001.0001

Show Summary Details
Page of

PRINTED FROM STANFORD SCHOLARSHIP ONLINE (www.stanford.universitypressscholarship.com). (c) Copyright Stanford University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in SSO for personal use.date: 28 June 2022

Introduction to Human Capital and Economic Growth

Introduction to Human Capital and Economic Growth

(p.3) 1 Introduction to Human Capital and Economic Growth
Human Capital and Economic Growth
Stanford University Press

This chapter introduces the themes of the book, providing an overview of the main theories linking human capital accumulation and economic growth. Investment in physical capital, or capital fundamentalism, came to be widely accepted as the predominant theory of economic growth. This chapter also cites a few of the models included in the main discussion. The Mankiw–Romer–Weil model treats human capital as an input into an aggregate production function that assumes decreasing returns to the reproducible factors of production. Benhabib and Spiegel's approach follows on the traditional growth accounting methodology according to which the growth of output is determined by the accumulation of inputs and total factor productivity (TFP) growth. At the empirical level, these models identify a nation's level of human capital with the quantity of education possessed by each adult member of the nation's population.

Keywords:   human capital accumulation, economic growth, TFP growth, Mankiw–Romer–Weil model

Stanford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.