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Статья

Specific and general human capital in an endogenous growth model

Eastern European Economics. 2015. Vol. 53. No. 3. P. 167-204.
Slobodyan S., Jerbashian V., Vourvachaki E.

In this article, we define specific (general) human capital in terms of the occupations whose use is spread in a limited (wide) set of industries. We analyze the growth impact of an economy’s composition of specific and general human capital, in a model where education and research and development are costly and complementary activities. The model suggests that a declining share of specific human capital, as observed in the Czech Republic, can be associated with a lower rate of long-term growth. We also discuss optimal educational policies in the presence of market frictions.