scholarly journals Physical and Human Capital Deepening and New Trade Patterns in Japan

2013 ◽  
pp. 7-49 ◽  
Author(s):  
Keiko Ito ◽  
Kyoji Fukao
Keyword(s):  
Human Capital ◽  
Trade Patterns ◽  
Capital Deepening

The Dynamic Correlation Between Capital Deepening and Total Factor Productivity in China

2020 ◽  
Vol 24 (4) ◽  
pp. 524-531
Author(s):  
Wuliu Zhang ◽  
Keyword(s):  
Human Capital ◽  
Total Factor Productivity ◽  
Negative Impact ◽  
Positive Impact ◽  
Linear Structure ◽  
Physical Capital ◽  
Influence Coefficient ◽  
Factor Productivity ◽  
Capital Deepening ◽  
The Impact

The impact of capital deepening on total factor productivity (TFP) is a significant and controversial issue. Based on the calculation of relevant indicators, this study adopts a Bayesian time-varying parameter model, Bayesian quantile regression, and adaptive Bayesian quantile models for in-depth statistical analysis. TFP was found to have a complex non-linear structure, and physical and human capital deepening indicators show a significant upward trend. The deepening of physical capital has a negative impact on TFP, while the deepening of human capital has a positive impact. In the capital deepening structure, the level of TFP has been improved and its structure optimized. Primary human and non-production physical capital deepening has no significant effect on TFP, while secondary human capital deepening has some significant effects on TFP. Tertiary and productive human capital deepening of TFP present two different forms of significant effect: the influence coefficient of the former declines in the increasing quantile and the change is larger, while the latter has a stable negative impact. The results of this study provide insights in terms of the improvement of China’s productivity.

The Empirical Growth Literature

2014 ◽  
pp. 104-141
Keyword(s):  
Human Capital ◽  
Trade Openness ◽  
Theoretical Models ◽  
Policy Environment ◽  
Trade Patterns ◽  
International Data ◽  
Good Policy ◽  
Almost All ◽  
The Impact ◽  
Empirical Growth

This chapter surveys the empirical growth literature on the selected Asian economies investigating the effects of a few important determinants of growth (e.g. the investment rate, trade openness, human capital, financial development, and macroeconomic policy environment). The summary provides some important insights but also presents conflicting findings, which unanimously do not always conform to the conclusions of the theoretical models. For instance, whilst investment is agreed to be an important determinant of growth, the literature puts emphasis on the type of investment in question and the important interactions between investment and other variables like trade openness and good policy environment. On trade openness, the absence of a strong theoretical basis, data limitations, and therefore, the use of right or wrong proxies shadow the impact of trade and growth. However, international data on trade patterns and other empirical evidences do support strongly that openness to trade has positive growth effects. There is no doubt of a strong theoretical support for the impact of human capital on growth. The reflective empirical findings also support this view, except that there are measurement problems for indicators like education attainment and quality of education. Similarly, the consensus is that credible policies and sound institutions are growth supportive. Cross-country findings have provided some uniform results, but country-specific findings show large variability on almost all the tested variables. Against this background, this chapter develops a pragmatic survey on five important hypothesized forces of economic growth.

LABOUR SKILLS AND HUMAN CAPITAL IN THE EXPLANATION OF TRADE PATTERNS *

1991 ◽  
Vol 43 (3) ◽  
pp. 443-462 ◽  
Author(s):  
ANTHONY S. COURAKIS
Keyword(s):  
Human Capital ◽  
Trade Patterns
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