economics essay plan economic growth.docx - Theory suggests...

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Theory suggests that economic growth is boosted by improvements in human capital. What are the implications of this for the highly contentious debates in many economies over immigration 'say what you're going to say (intro), Wi Immigration Within the macroenvironment, certain theories Main objectives in the macro environment High and stable economic growth Low rate of inflations Low unemployment Actual gowth – potential output Networth of uk – national statistics Human capital is identified as one of the main determinants of economic growth and plays an important role in the technological progress of countries. Nevertheless, existing studies have to some extent neglected the importance of human capital in the growth process via the interaction it can have with a country’s industrial specialization. Additionally, the emphasis is mainly placed on supply-side determinants, while demand-side factors are neglected, particularly the relevance of the processes of structural change. Thus, using a growth model which integrates variables from both the supply side and demand side, we assess the direct and indirect effects of human capital on economic growth, including in the latter the interaction of human capital with the industrial specialization of countries. Based on

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