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Economic Growth in Sweden, 1870-2000. Essay on Human Capital Contribution

Martynovich, Mikhail LU (2012) EKHR72 20121
Department of Economic History
Abstract
In this paper, we analyze the role which human capital played in Swedish economic growth over the late nineteenth-twentieth centuries. It has been shown that Swedish development over the considered period may be divided into three sub-periods, which have particular features when it comes to interrelations between human capital and economic growth. In the first sub-period (1888-1933), the Lucasian growth regime was likely to be dominating, that is, the rate of economic growth was defined by the rate of human capital accumulation. After 1934 economic growth switched to the Romerian mode, that is, the rate of economic growth was defined by already accumulated level of human capital. When it comes to the third sub-period (1971-2000), we could... (More)
In this paper, we analyze the role which human capital played in Swedish economic growth over the late nineteenth-twentieth centuries. It has been shown that Swedish development over the considered period may be divided into three sub-periods, which have particular features when it comes to interrelations between human capital and economic growth. In the first sub-period (1888-1933), the Lucasian growth regime was likely to be dominating, that is, the rate of economic growth was defined by the rate of human capital accumulation. After 1934 economic growth switched to the Romerian mode, that is, the rate of economic growth was defined by already accumulated level of human capital. When it comes to the third sub-period (1971-2000), we could not specify the dominating growth regime based on the methodology suggested in this research. Regression analyses have shown that in general over 1870-2000 human capital had the significant, positive effect on economic growth; however, size and significance of the effect are highly vulnerable to regression specification. (Less)
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author
Martynovich, Mikhail LU
supervisor
organization
course
EKHR72 20121
year
type
H2 - Master's Degree (Two Years)
subject
keywords
economic growth, human capital, Sweden, Lucas, Romer, endogenous growth models, ‘new growth theories’
language
English
id
2740245
date added to LUP
2012-06-18 12:03:46
date last changed
2012-06-18 12:03:46
@misc{2740245,
  abstract     = {In this paper, we analyze the role which human capital played in Swedish economic growth over the late nineteenth-twentieth centuries. It has been shown that Swedish development over the considered period may be divided into three sub-periods, which have particular features when it comes to interrelations between human capital and economic growth. In the first sub-period (1888-1933), the Lucasian growth regime was likely to be dominating, that is, the rate of economic growth was defined by the rate of human capital accumulation. After 1934 economic growth switched to the Romerian mode, that is, the rate of economic growth was defined by already accumulated level of human capital. When it comes to the third sub-period (1971-2000), we could not specify the dominating growth regime based on the methodology suggested in this research. Regression analyses have shown that in general over 1870-2000 human capital had the significant, positive effect on economic growth; however, size and significance of the effect are highly vulnerable to regression specification.},
  author       = {Martynovich, Mikhail},
  keyword      = {economic growth,human capital,Sweden,Lucas,Romer,endogenous growth models,‘new growth theories’},
  language     = {eng},
  note         = {Student Paper},
  title        = {Economic Growth in Sweden, 1870-2000. Essay on Human Capital Contribution},
  year         = {2012},
}