Economies move through different stages of development from labour-intensive to capital-intensive and then move through various stages of different product cycles. Countries may move concurrently through different cycles, the capital-goods import-export cycle, the capital-labour intensive product cycle and the cycle of human capital transformation. Joshua develops a human capital model to explain transformational growth within different stages of economic development. This will induce technological changes and consequently will require a change in human capital. This study therefore explores the relationship between the transformation of human capital, technological change and stages of economic development. Transformational growth implies qualitative changes through the reallocation of resources, including human capital and thereby may induce cycles of innovative development so that human capital and new technology are complementary to each other. This book provides a systematic study of the contribution of primary, secondary, tertiary and vocational education towards economic growth during different stages of economic development in China.
- ISBN10 1137529369
- ISBN13 9781137529367
- Publish Date 1 July 2015 (first published 14 January 2014)
- Publish Status Active
- Publish Country GB
- Imprint Palgrave Macmillan
- Format eBook
- Pages 320
- Language English