Abstract
In recent years, many empirical analyses of cross countries point out physical capital stock and human capital stock that can only explain partial cause of income inequality. Therefore, economists attempt to add multiple interpreted variables, trying to illustrate economic growth which physical capital and human capital can¡¦t expound. Generally speaking, growth theory common was applied different growth assay of cross countries, but lacking empirical researches of single country. Income inequality is the important issue of national economy, including difference between town and country bring about problems of financial distribution, and unbalance of labor market cause mishap of high unemployment rates, consequently, it becomes interesting subject that how to blend state output in single country. The issue is more cared for United State that possessing enormous economic influence. Due to corporeal and incorporeal capital can free mobile, one must ponder on more detailed elements to measure national proceeds.
According to reports of national policy indicate that development of information technology (IT) and internet were one of important factors to form the longest expansion in the postwar period that lasted 111 months from March 1991 to June 2000, large number of immigrants that could satisfy labor demand of IT property, and consumed productions of market supply. For this reason, one consider to measure U.S. output not only confer the effects of accumulation of physical capital and human capital, but also contain contributions of immigrants.
To analyze economic implications in three models, one can summarize four conclusions:
First point: physical capital and human capital of effective labor provide with significantly positive effect for economic growth rates of U.S. states in 1991 to 1999. Physical capital of effective labor shows that decreasing influence on economic growth of cross states, the magnitude of estimate coefficient are reducing from 0.0783, 0.0638, to 0.0169, demonstrating that play a role of necessary yet a main input factor. Opposite to physical capital, human capital of effective labor present increasing condition which from 0.4568 to 1.1052, displaying it¡¦s outstanding for economic growth of U.S. Furthermore, we also find a phenomenon that speed of convergence ( ) enlarge huger (from 0.0165 to 0.0183), it imply that value of is diminishing (from 0.0853 to 0.0447). In other words, economies that want to approach state-steady can¡¦t only depend on increasing of accumulation of physical capital, but quality of human and level of technology also simultaneously promote.
Second point: More immigrants will move up to economic growth of cross states. Because immigrants have lofty knowledge and skill, an aspect they can through spillover effect to local, increasing accumulation of human capital, another aspect that can raise local productivity to advance economic growth.
Third point: Although term of is random coefficient of cross states in models, it¡¦s purport that comprise different geographical location, endowment of resource and institution etc. in every states, hence, when we can think about more component of (for instant, adding immigrants) to improve and develop it, than economic growth will reveal significant and positive beneficial result.
Fourth point: Lower adjusted may be that one don¡¦t look upon puzzle of business cycle, therefore, one proceed time serious analysis of single country and directly estimate production function that could meet up perplexity of calculation (Romer, 1987), in other words, when effects of business cycle of economic variables dominate change of some variables for contributing economic growth that will make estimation to convert into inefficient.
Synthesizing the above-mentioned consequences, one find that U.S. can establish forceful economic status except for accumulation of physical capital and human capital, it¡¦s more important that immigrants guide robust effect on economic dimension of host country. Such example that can be gather from national policy of Singapore. Consequently, one suggest that nation pay much attention to immigrants will intensify economic growth rates and international competition of nation, and accumulation of ¡§human¡¨ capital will be a key-point that determinate force of national competition.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0709102-175227 |
| Date | 09 July 2002 |
| Creators | Chen, Chun-Yu |
| Contributors | Yung-Hsiang Ying, Wen-Ya Chang, Shul-John Li |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0709102-175227 |
| Rights | unrestricted, Copyright information available at source archive |
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