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    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/23156


    Title: The Role of Human Capital in Economic Development:Evidence from Taiwan
    Authors: 莊奕琦
    Chuang, Yih-chyi
    Date: 1996
    Issue Date: 2009-01-09 11:36:19 (UTC+8)
    Abstract: The use of Taiwanese industrial data to investigate two potentially important roles of human capital on long-run economic growth (i.e. factor accumulation and technology progress), we find that human capital accounts for 46% of output growth in aggregate manufacturing industry and from 23 to 84% in two-digit industries. Significant knowledge spillover effects were found within Taiwan`s manufacturing sector. For aggregate manufacturing, a roughly 29% of total rate of return to education gives a private return of 7% while the external knowledge spillover effect is 22%. For the two-digit industries, the inter-industry effect of education measures two to three times its intra-industry effect. Contrary to the Lau-Young proposition, we find that technology change in terms of knowledge spillover contributes 39% to the output growth of Taiwan`s aggregate manufacturing and from 12 to 42% to that of the two-digit industries. Our results also suggest that, in the presence of externalities, growth accounting based on macro data may be misleading in interpreting the sources of growth.
    Relation: Asian Economic Journal, 13(2), 117-144.
    Data Type: article
    DOI link: http://dx.doi.org/10.1111/1467-8381.00078
    DOI: 10.1111/1467-8381.00078
    Appears in Collections:[Department of Economics] Periodical Articles

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