HUMAN CAPITAL AS THE SOURCE OF ECONOMIC GROWTH

Abstract

This paper revisits the theoretical framework of endogenous economic growth by considering models where human capital accumulation is at the center of the growth process. Our work is in line with Lucas (2015), who calls for not giving “too large a role to exogenous technological change” (p. 86) while advocating that “the contribution of human capital accumulation to economic growth deserves a production function of its own” (p. 87). The main finding of our research provides the long-term behavior of economies, where our main results locate and extend these discussions to infinite-horizon models in several ways. Correction Notice Correction to Tran, N. T. and Thai, H. H. (2023). Human capital as the source of economic growth. Dalat University Journal of Science, 13(4S), 30–41. As initially published, this article contained an error in the author list. In the corrected version of the article, Thai Ha Huy [University of Évry (University of Paris-Saclay), Évry, France] has been removed from the author list as the authorship of the article belongs solely to Tran Nhat Thien [The Faculty of Economics and Business Administration, Dalat University, Lam Dong, Vietnam]. The author list of this article has been corrected at the request of the Editor-in-Chief because the author list was originally incorrect. In November 2023, the Dalat University Journal of Science (DLU-JOS) became aware that the author/contributor list presented in the article was incorrect. The error was reported to the DLU-JOS by the two authors themselves. One of the authors was not aware that his name had been included in the author list of the article, and both authors agreed to request that the article be retracted. In accordance with the international guidelines established by the Committee on Publication Ethics, of which the DLU-JOS is a member, we have determined that these are not grounds for retraction. We have determined that the authorship of the article was disputed but that no reason exists to doubt the validity or reliability of the findings. Therefore, a correction to the author list should sufficiently address the concerns raised by the two authors. To ensure transparency and the accuracy of the scholarly record, we have decided to issue a formal correction to the author/contributor list of the article with the belief that the two authors have provided appropriate proof that such a correction is justified. The authors have agreed to this formal correction notice. The DLU-JOS regrets this incident and extends its apologies to its readers.

Keywords

• dynamic programming
• endogenous growth
• human capital.