This paper proposes a dynamic economic model with wealth accumulation and human capital accumulation. The economic system consists of one production sector and one education sector. We take account of three ways of improving human capital: learning by producing, learning by education, and learning by consuming. The model describes a dynamic interdependence between wealth accumulation, human cap...

Statistical studies on the effects of capital controls on growth have generally yielded insignificant results. In this paper, we show that capital controls negatively affect growth in authoritarian countries, while growth in democratic countries is insignificantly affected. We also show that the adverse effects of capital controls likely pass through the efficiency of investment. Our findings s...

This paper uses a multi-stage education model to identify the human capital dynamic linkage in early childhood development, namely how children’s pre-kindergarten human capital levels affect their schooling efficiency and outcomes. The human capital dynamic linkage is significantly positive, and estimation without controlling for endogeneity is downward biased. The human capital dynamic linkage...

Influence costs arguments explain the level of efficiency attained by internal capital markets in investor-oriented firms (IOFs). Using these developments in the theory of economic organization we study internal capital markets in diversified customer-owned firms. In such firms, influence costs may be considerably higher than in IOFs of comparable size and scope, due to multiple principle—agenc...

The influence of IT investments on organizational performance is revisited. Bounded rationality, organizational controls, and political forces may constrain optimal selection of inputs and appropriate substitution between inputs. For example, firms may not be able to attain an optimal level of IT by substituting IT for labor (for reasons such as pressure from the labor union). Besides estimatin...

The article substantiates the identification of agrarian human capital as a specific form and provides its author's interpretation. In determining quantitative value, advantages using income assessment method rather than cost (investment) approach are proven. latter circumstance is basis for development methods to assess effectiveness functioning in sphere, based on acme technology. use acmeolo...