ECONOMIC UNDERDEVELOPMENT - THE CASE OF A MISSING MARKET FOR HUMAN-CAPITAL
ECONOMIC UNDERDEVELOPMENT - THE CASE OF A MISSING MARKET FOR HUMAN-CAPITAL
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DOI：
10.1016/0304-3878(93)90084-z
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发表时间：
1993-04-01
影响因子：
5
通讯作者：
LJUNGQVIST, L
中科院分区：
文献类型：
--
作者：
LJUNGQVIST, L
本文论证了在消费品和实物资本自由贸易的世界经济中，发达国家和欠发达国家的共存可以是一种稳定的均衡。欠发达国家的特点是劳动力中非熟练工人的比例高，实物资本存量少，国民生产总值低，人力资本回报率高，熟练工人和非熟练工人之间的工资差距相应较大。关键的假设是，未来的劳动收入不能作为贷款的抵押品，也不能作为教育的不可分割。
This paper demonstrates that the coexistence of developed and underdeveloped countries can be a stationary equilibrium in a world economy with free trade in consumption goods and physical capital. An underdeveloped country is characterized by a high ratio of unskilled workers in the labor force, a small stock of physical capital, a low gross national product, a high rate of return on human capital and a corresponding large wage differential between skilled and unskilled workers. The critical assumptions are that future labor earnings cannot serve as collateral on a loan and indivisibilities in education.