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Schooling, Working Experiences, and Human Capital Formation

Author

Listed:
  • Kazuo Mino

    (Faculty of Economics, Osaka University)

  • Yunfang Hu

    (Research Institute for Economics & Business Administration, Kobe University)

Abstract

This paper assumes that human capital is a composite of two types of knowledge and skills: one is accumulated by formal education in schools and the other is accumulated through working experiences in production activities. Introducing such a concept of human capital into the standard Lucas-Uzawa model of endogenous growth, we show that a higher rate of long-run growth is not necessarily associated with a higher level of education attainment.

Suggested Citation

  • Kazuo Mino & Yunfang Hu, 2005. "Schooling, Working Experiences, and Human Capital Formation," Economics Bulletin, AccessEcon, vol. 15(3), pages 1-8.
    • Handle: RePEc:ebl:ecbull:eb-04o40006
    as

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    References listed on IDEAS

    as
    1. Jonathan Temple, 2003. "Growth effects of education and social capital in the OECD countries," OECD Economic Studies, OECD Publishing, vol. 2001(2), pages 57-101.
    2. Barro, Robert J & Lee, Jong-Wha, 2001. "International Data on Educational Attainment: Updates and Implications," Oxford Economic Papers, Oxford University Press, vol. 53(3), pages 541-563, July.
    3. Faig, Miquel, 1995. "A simple economy with human capital: Transitional dynamics, technology shocks, and fiscal policies," Journal of Macroeconomics, Elsevier, vol. 17(3), pages 421-446.
    4. Peter J. Klenow & Mark Bils, 2000. "Does Schooling Cause Growth?," American Economic Review, American Economic Association, vol. 90(5), pages 1160-1183, December.
    5. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    6. Yoram Ben-Porath, 1967. "The Production of Human Capital and the Life Cycle of Earnings," Journal of Political Economy, University of Chicago Press, vol. 75(4), pages 352-352.
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    More about this item

    Keywords

    education;

    JEL classification:

    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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