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Does Low Education Delay Structural Transformation?

Basu, P.; Guariglia, A.

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Authors

A. Guariglia



Abstract

Why do some countries industrialize later than others? Recent literature suggests that the prime reason is low agricultural productivity. This paper argues that the initial level of human capital could also be a contributing factor. We construct a neoclassical growth model, which predicts that countries with a greater initial knowledge gap industrialize later. We use this model as a baseline and calibrate it to historical data for the United Kingdom. We find that our baseline model performs well in replicating actual historical U.K. gross domestic product series during the postindustrialization era. The same model also explains a significant fraction of past and recent cross-country variations in per capita income levels.

Citation

Basu, P., & Guariglia, A. (2008). Does Low Education Delay Structural Transformation?. Southern Economic Journal, 75(1), 104-127

Journal Article Type Article
Publication Date Jul 1, 2008
Deposit Date May 22, 2009
Publicly Available Date Mar 29, 2024
Journal Southern Economic Journal
Print ISSN 0038-4038
Publisher Southern Economic Association
Peer Reviewed Peer Reviewed
Volume 75
Issue 1
Pages 104-127
Public URL https://durham-repository.worktribe.com/output/1536278
Publisher URL http://www.southerneconomic.org/

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