Varieties of Human Capital, Growth and Productive Investment: what Supply Policy for France
DOI:
https://doi.org/10.18559/SOEP.2016.3.4Keywords:
Human capital, Investment, Economic growthAbstract
This paper considers the concerns about slow economic growth in Europe and especially in France. With the help of a neoclassical type model, it emphasizes the role played by productive investment and its main determinants, profit being in the first rank. Coming from the idea that one of the more important forms of human capital is the aptitude to assess and to cope with risk, it may be said that this aptitude is fundamental for elevating the growth potential in the long run. To avoid stagnation, tax policies aiming to increase net profits and savings may be quickly undertaken. Both mentalities and institutions must be modified by supply policies intended to increase the particular sort of human capital used to promote productive investment. These joint reforms would permit a boost in the investment rates, the growth potential and the standard of living in the long run.
Downloads
References
Aschauer, D., 1989, Is Public Expenditures Productive?, Journal of Monetary Economics, vol. 23, iss. 2, pp. 177-200, DOI: 10.1016/0304-3932(89)90047-0.
View in Google Scholar
Barro, R., 1990, Government Spending in a simple Model of Endogeneous Growth, Journal of Political Economy, vol. 98, iss. 5, pp. 103 - 125, DOI: 10.1086/261726 .
View in Google Scholar
Caselli, F., Feyrer, J., 2006, The Marginal Product of Capital, 7th Jacques Polak Annual Research Conference, FMI des 9-10 Novembre.
View in Google Scholar
Gandelman, N., Hernàndez-Murillo, R., 2015, Risk Aversion at the Country Level, FRB Saint Louis Review, First Quarter.
View in Google Scholar
Jones, Ch. I, 1995, Théorie de la croissance endogène, De Boeck Université.
View in Google Scholar
Landais, B., 2009, Perspectives de politique de croissance : retour sur le lien national entre l'épargne et l'investissement, Mélanges en hommage à Jean-Claude Dischamps ; éditeurs : Ion Cucui, Maria Negreponti-Delivanis, Ion Stegariou, Université Valahia, Targoviste.
View in Google Scholar
Landais, B., 2013, Une nouvelle présentation du modèle macroéconomique de base : équilibre et crise, Economie Appliquée, Décembre.
View in Google Scholar
Liang, J., Hui W., Lazear E., 2014, Demographics and Entrepreneurship, NBER Working Papers, Septembre, DOI: 10.3386/w20506.
View in Google Scholar
Lucas, R., 1990, Why doesn't Capital Flow from Rich to Poor Countries?, American Economic Review, 80, DOI: 10.3386/w11901.
View in Google Scholar
Mankiw, G., Romer, D., Weil, D., 1992, A Contribution to the Empirics of Economic Growth, Quarterly Journal of Economics, Mai, DOI: 10.2307/2118477.
View in Google Scholar
Mankiw, G., 2014,Yes, r > g, and so What ?, Harvard Paper, Novembre.
View in Google Scholar
Ramsey, F., 1928, A Mathematical Theory of Saving, The Economic Journal, Décembre, DOI: 10.2307/2224098.
View in Google Scholar
Rapport "Attali", 2008, Rapport de la Commission pour la liberation de la croissance française, sous la présidence de Jacques Attali, la Documentation Française, DOI : 10.3917/espri.0803.0219.
View in Google Scholar
Romer, P., 1986, Increasing Returns and Long Term Growth , Journal of Political Economy, 94, Octobre, DOI: 10.1086/261420.
View in Google Scholar
Romer, P., 1990, Endogeneous Technical Change, Journal of Political Economy, 98, Octobre, DOI: 10.1086/261725.
View in Google Scholar
Schumpeter, J.A., 1950, Capitalisme, Socialisme et Démocratie,traduction française, Payot 1983.
View in Google Scholar
Summers, L., 2014, Why Public Investment Really is a Free Lunch, Financial Times du 6 octobre.
View in Google Scholar
(de) Tocqueville, A., 1840, De la démocratie en Amérique, vol. II (Quatrième Partie : Chapitre VI), DOI : 10.1007/978-3-531-90400-9_122.
View in Google Scholar
