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Technological change, human capital update and growth policies

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  • Fernando Pueyo
  • Marcos Sanso

Abstract

This paper presents a model of growth driven simultaneously by innovation and human capital accumulation. Two different long-run equilibria are possible, according to whether or not workers’ skills are completely updated over time as knowledge expands. Skill gaps could arise as a consequence of poor education infrastructures, even in the efficient solution; in such circumstances, we find that whilst education policies are able to encourage growth, R&D policies are not. Otherwise, subsidizing education becomes ineffective for enhancing growth, although it could be necessary to avoid possible skill gaps originated by the R&D growth-enhancing policy. Copyright Springer-Verlag Berlin/Heidelberg 2004

Suggested Citation

  • Fernando Pueyo & Marcos Sanso, 2004. "Technological change, human capital update and growth policies," Spanish Economic Review, Springer;Spanish Economic Association, vol. 7(1), pages 23-41, January.
    • Handle: RePEc:spr:specre:v:7:y:2004:i:1:p:23-41
    DOI: 10.1007/s10108-004-0093-3
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    Cited by:

    1. Arias-Aranda, Daniel & Romerosa-Martínez, M. Mercedes, 2010. "Innovation in the functional foods industry in a peripheral region of the European Union: Andalusia (Spain)," Food Policy, Elsevier, vol. 35(3), pages 240-246, June.

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