Intellectual capital in economic growth models

Igor Lyashenko, Yuriy Tadeev

Abstract


The new conception for constructing economic growth models is proposed in the article. Three main factors are taking into account: physical capital, labor, and intellectual capital (knowledge).  In this case, intellectual capital is represented in three dimensions: technological intellectual capital, human intellectual capital, and relational intellectual capital. In each dimension intellectual capital is considered as specific endogenous technological progress, which is described by the differential equation.


Keywords


модель оптимального економічного зростання; інтелектуальний капітал; ендогенний технологічний прогрес; нейтральний ендогенний прогрес

References


Ramsey, F. (1928), “A Mathematical Theory of Saving.” Economic Journal, 38, December, 543–559.

Cass, D. (1965), “Optimum Growth in an Aggregative Model of Capital Accumulation.” Review of Economic Studies, 32, July, 233–240.

Koopmans, T.C. (1965), “On the Concept of Optimal Economic Growth.” In The Econometric Approach to Development Planning. Amsterdam: North Holland, 1965.

Barro, R.J., Sala-i-Martin, X. (2004), Economic Growth. Cambridge, Mass.: MIT Press.

Drucker P.F. (1993), The Post-Capitalist Society. New York: HarperCollins.

Solow, R.M. (1957), “Technical Change and the Aggregate Production Function.” Review of Economics and Statistics, 39, August, 312–320.

Inada, K.I. (1963), “On a Two-Sector Model of Economic Growth: Comments and a Generalization.” Review of Economic Studies, 30, June, 119–127.

Fitz-enz J. (2009), The ROI of Human Capital: Measuring the Economic Value of Employee Performance. New York: AMACOM.


Refbacks

  • There are currently no refbacks.


Copyright (c) 2014 Igor Lyashenko, Yuriy Tadeev

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Creative Commons License


Economic Cybernetics. International scientific journal is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Permissions beyond the scope of this license may be available at http://ec.projects-manager.com.

Economic Cybernetics is published by Vasyl' Stus Donetsk National University.

Follow me on Academia.edu