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ERIC Number: ED255343
Record Type: RIE
Publication Date: 1984-Feb
Reference Count: 0
Education as an Investment in Human Capital and Manufacturing Employment Growth.
McNamara, Kevin T.; And Others
Recent studies of rural manufacturing employment have presented conflicting evidence about the relationship between human capital and local economic development at a time when competing claims for local investment funds could potentially undermine support for public education. The purpose of this paper is to: (1) develop the conceptual linkage between public education as a local investment in human capital and local economic growth; (2) critique the body of research that has attempted to link changes in manufacturing employment with local education investments; and (3) present new research findings that help clarify the nature of this important conceptual linkage. Measures for the stock and flow of human capital are developed, followed by estimation of a Virginia industrial location model designed to test hypotheses about education's role in manufacturing employment growth. Although the model's results are mixed, this is not seen as a contradiction of the importance of human capital stock and flow. It is suggested that future research give more attention to establishing the proper conceptual framework linking local investments in schooling and other forms of increasing labor quality with different patterns of economic development. (BRR)
Publication Type: Reports - Research; Speeches/Meeting Papers
Education Level: N/A
Audience: Researchers; Policymakers; Community
Authoring Institution: Virginia Polytechnic Inst. and State Univ., Blacksburg.
Identifiers: Economic Growth; Virginia
Note: Paper presented at the Annual Meeting of the Southern Agricultural Economics Association (Nashville, TN, February, 1984).