Public Education, Technological Change and Economic

Center for European Governance and Economic Development Research Paper No. 149

37 Pages Posted: 15 Jan 2013

See all articles by Klaus Prettner

Klaus Prettner

Vienna University of Economics and Business - Department of Economics

Date Written: January 14, 2013

Abstract

We introduce publicly funded education in R&D-based economic growth theory. The framework allows us to i) incorporate a realistic process of human capital accumulation for industrialized countries, ii) reconcile R&D-based growth theory with the empirical evidence on the relationship between economic prosperity and population growth, iii) revise the policy invariance result of semi-endogenous growth frameworks, and iv) show that the transitional effects of an education reform tend to be qualitatively different from its long-run impact.

Keywords: human capital accumulation, technological progress, scale-free economic growth, public education policy

JEL Classification: I25, J24, O11, O31, O41

Suggested Citation

Prettner, Klaus, Public Education, Technological Change and Economic (January 14, 2013). Center for European Governance and Economic Development Research Paper No. 149, Available at SSRN: https://ssrn.com/abstract=2200398 or http://dx.doi.org/10.2139/ssrn.2200398

Klaus Prettner (Contact Author)

Vienna University of Economics and Business - Department of Economics ( email )

Augasse 2-6
A-1090 Wien
Austria

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