Title: Borrowing constraints, human capital accumulation, and growth
Abstract: Borrowing constraints increase aggregate savings, and therefore may increase growth. This paper argues, however, that by reducing human capital accumulation, borrowing constraints also have negative effects on growth. These effects are discussed in an overlapping-generations model with endogenous growth. Empirical evidence for OECD and developing countries lend support to the main predictions of the model.
Publication Year: 1996
Publication Date: 1996-02-01
Language: en
Type: article
Indexed In: ['crossref']
Access and Citation
Cited By Count: 231
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot