Theoretical Economics Letters

Volume 3, Issue 2 (April 2013)

ISSN Print: 2162-2078   ISSN Online: 2162-2086

Google-based Impact Factor: 0.82  Citations  

Growth Theory and Endogenous Human Capital Development: A Contribution to the Theory of Complex Systems

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DOI: 10.4236/tel.2013.32016    5,969 Downloads   8,928 Views  Citations
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ABSTRACT

As economic phenomena become increasingly complex, the demands on models to reflect this complexity also increase. Economic growth, for example, which depends on a variety of factors, is such a complex phenomenon. Especially the relevance of human capital development for modern service societies is a significant growth factor. This is, however, considered only in few discussions. In order to represent such complex phenomena, adequate models are needed that go beyond linear approaches. This paper points out that models from the dynamic system theories are well suited to illustrate human capital as a factor of economic growth.

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A. Liening, "Growth Theory and Endogenous Human Capital Development: A Contribution to the Theory of Complex Systems," Theoretical Economics Letters, Vol. 3 No. 2, 2013, pp. 96-104. doi: 10.4236/tel.2013.32016.

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