高宏Chapter 3B.pptVIP

Chapter 3 New Growth Theory Part B Cross-Country Income Differences 周泳宏 So far, our conclusions are Differences in capital do not account for the income differences across countries Since technology is nonrival, differences in technology are unlikely to be important to cross-country income differences In this part, we attempts to move beyond these conclusions Physical capital is not the only type of capital, and we need to consider human capital as well The allocation of resources between activities that raise overall output and ones that redistribute it A model of this division of resou