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Volume2, No.
2,
August 2003
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On the Empirics of the
Imbalance Effect
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Peter Duczynski*
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Department of Economics and Management, University of
Hradec Kralove, Czech Republic
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Abstract
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An important problem in
the theory of economic growth is whether the growth of
output per capita depends positively or negatively on
the ratio of human to physical capital. This paper
provides evidence that this dependence tends to be
positive.
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Key words
: asymmetric imblance effect; economic
growth; human capital;
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physical capital
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JEL classification
: O4
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