人的資本의 生産要素別 經濟成長效果 分析

Abstract

The main purpose of this study is to analyze the level of educational contribution and role to economic growth. In order to improve labor productivity through new knowledge and technologies, the contribution to production factors on economic growth can be estimated using endogenous growth model by investment in education. therefore, to analyze the correlation between education and economic development, we build korea's time series data and analyze how investment in education effects economic growth. During the period between 1970∼2007, time series data were analyzed positively and the effects of technological innovation were considered by including physical capital and human capital and R&D capital. Compared to the other variables, Investment in education and R&D investment payback period are longer. considering that, it was found that its effects via secondary education indirectly contribute to economic growth. so the indirect role of each element to economic growth was estimated in order to find the coefficients and the actual role of each variable were derived using equations. South Korea's initial economy seemed to have developed rapidly by the high quality of human resources and improvement on technology, the government's aggressive policies to development, expansion of trade liberalization. therefore, based on the endogenous growth model, the root cause of economic growth in South Korea was made by the endogenous development of technology and human capital. The endogenous production function model was set up by substituting the neoclassical theory of Solow model and make progress in next steps to estimate the time series analysis. First, the endogenous growth model is presented to estimate the role of production factors on economic growth using expended Cobb-Douglas production function, Solow growth model theory. Second, elements in economic growth such as physical capital, human capital, R&D capital and the growth of simple labor to the contribution for economic growth are estimated by substituting the endogenous growth model. Third, the simultaneous equations model was set to estimate indirect contribution by interaction on each production factor (secondary education, higher education and R&D capital) and the result was revised by re-estimating the influence between each element. During Korea's economic growth period, results were showing that estimation of the simplicity of the labor force and higher education which gave indirect contributions to the secondary education and R&D capital using the simultaneous equations model and how much those elements such physical capital, human capital and R&D capital gave direct contributions to Korea's economic growth.