International Journal of Business and Economics Volume 2, No. 2 August, 2003

On the Empirics of the Imbalance Effect

Peter Duczynski

Department of Economics and Management, University of Hradec Kralove, Czech Republic

Abstract

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.

Keywords： asymmetric imblance effect, economic growth, human capital, physical capital.

JEL Classifications：O4.

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