| Summary: | 碩士 === 國立臺北大學 === 經濟學系 === 92 === In our theoretic model, accumulation of human capital that is formed by education is based on Lucas (2004). However, we can choose foreign bonds to be our financial assets. According to empirical results, the price elasticity of demand seems to be greater, that is, the slope of aggregate foreign demand curve of the export of Taiwan is becoming flatter. Although the growth rate of the equipment in mechanical and electrical engineering manufacturing is greater than that in textile manufacturing, the growth rate in both two industries still have slower trend. Therefore, we could not justify which kind of the industry switches the slope of aggregate foreign demand curve from steep to flat. We can only depend on the result of the greater growth rate of the equipment in mechanical and electrical engineering industry to conjecture that both results of larger elasticity and the flatter slope of aggregate foreign demand curve come from the equipment in mechanical and electrical engineering industry. Empirical results suggest that aggregate foreign demand curve of the export of Taiwan is elastic, and the export structure of Taiwan is from early labor-intensive textile industry to current human-capital-intensive electrical communication industry.
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