| Summary: | 碩士 === 世新大學 === 經濟學研究所(含碩專班) === 98 === The study tackles the dispersion of the regional of specified economic growth in Taiwan. Our results show that regional growth patterns can be understood as a function of several interrelated factors, which include investment in physical capital, human capital, and infrastructure capital; the infusion and spread of new technology.
We find that human capital positively affects output per worker and productivity growth. In particular, in terms of its direct contribution to production, educated labor has a much higher marginal product. This direct effect is hypothesized to come from domestic innovation activities. The estimated spillover effect of human capital on TFP growth is positive and statistically significant, which is very robust to model specifications and estimation methods. We conduct a cost-benefit analysis and a policy experiments in which we project the impact of increases in human capital and infrastructure capital on regional inequality. We conclude that investing in human capital will be an effective policy to reduce regional gaps in Taiwan as well as an efficient means to promote economic growth.
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