TY - JOUR
T1 - Imported Equipment, Human Capital and Economic Growth in Developing Countries
AU - Dulleck, Uwe
AU - Foster, Neil
N1 - Publisher Copyright:
© 2008 Economic Society of Australia (Queensland) Inc.
PY - 2008
Y1 - 2008
N2 - That both equipment investment and human capital affect growth in developing countries is a well established fact in the empirical growth literature. Few studies have asked to what extent human capital and equipment investment are complements, with human capital affecting the ability of developing economies to make use of investment in capital goods. We study the effect of equipment investment on the growth of developing countries and the interrelationship between such investment and human capital. We find a complex interrelationship between equipment investment and human capital. Generally, the relationship between equipment investment and growth is lowest, and often negative, for countries with low levels of human capital, highest for countries within an intermediate range and somewhat in between for countries with the highest level of human capital.
AB - That both equipment investment and human capital affect growth in developing countries is a well established fact in the empirical growth literature. Few studies have asked to what extent human capital and equipment investment are complements, with human capital affecting the ability of developing economies to make use of investment in capital goods. We study the effect of equipment investment on the growth of developing countries and the interrelationship between such investment and human capital. We find a complex interrelationship between equipment investment and human capital. Generally, the relationship between equipment investment and growth is lowest, and often negative, for countries with low levels of human capital, highest for countries within an intermediate range and somewhat in between for countries with the highest level of human capital.
UR - http://www.scopus.com/inward/record.url?scp=84867258414&partnerID=8YFLogxK
U2 - 10.1016/S0313-5926(08)50019-1
DO - 10.1016/S0313-5926(08)50019-1
M3 - Article
AN - SCOPUS:84867258414
SN - 0313-5926
VL - 38
SP - 233
EP - 250
JO - Economic Analysis and Policy
JF - Economic Analysis and Policy
IS - 2
ER -