The low-skill, low-quality trap: strategic complementarities between human capital and R & D

Article Abstract:

Human capital and R & D investments are examined to determine their relationship and their effect on long-term economic growth. Comparison of two resultant equilibria, "low-skills" and high-skills", indicate complimentary attributes between the two investments. However, The "low skill" equilibrium may result in an economy with low per capita income and growth rate. This "low skill" trap, which entails low quality products, may be remedied by effective government policies on education and training.

Research, Economic aspects, Industrial research, Economic development, Human capital

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Trade, technology, and wages: general equilibrium mechanics

Article Abstract:

An examination of wage inequality and international trade in a general equilibrium context reveals that such a context is still a viable modeling medium to explain many economic phenomena, especially in tracing the connection between international trade and wage inequality. The general equilibrium model is still effective even its simplest form, the 2 by 2 factor endowment, in supporting the Stolper-Samuelson effects of international trade on wages.

Economics, Research and Development in the Social Sciences and Humanities, International trade, Labor market, Wages, Wages and salaries

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