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TitleThe skill premium and economic growth with costly investment, complementarities and international technological-knowledge diffusion
Author(s)Afonso, Óscar
Neves, Pedro
Thompson, Maria João Ribeiro
KeywordsTechnological-knowledge bias
Skill premium
Costly investment
Technological-knowledge diffusion
Issue date2014
PublisherTaylor & Francis
JournalThe Journal of International Trade and Economic Development
Abstract(s)We analyse the skill premium and the growth rate in an innovator-imitator general equilibrium growth model assuming (i) internal costly investment in both physical capital and R&D, (ii) complementarities between intermediate goods in production and (iii) technological-knowledge diffusion. We find that in the imitator country these three elements influence the economic growth rate and the skill premium. In the innovator country, while the growth rate is affected by costly investment and complementarities, the skill premium is not affected by any of our assumptions. It depends solely on the productive advantage of high-skilled over low-skilled labour, which suggests that the sustained increase in the skill premium observed in several developed countries over the last three decades may have been due to increases in such productive advantage.
DescriptionPublished online: 23 Sep 2011
Publisher version
AccessRestricted access (UMinho)
Appears in Collections:NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica

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