NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Zhiqiang Liu

SUNY Buffalo, Dept. of Economics
445 Fronczak Hall
Buffalo, NY 14260

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NBER Working Papers and Publications

August 2017The Role of Entrepreneurial Human Capital as a Driver of Endogenous Economic Growth
with Isaac Ehrlich, Dunli Li: w23728
We model investment in entrepreneurial human capital (EHC) - the representative enterprise’s share of production capacity allocated to investment in innovative industrial and commercial knowledge – as a distinct channel through which firm-specific human capital drives endogenous growth. Our model suggests that institutional factors supporting free markets for goods and ideas, and higher educational attainments of entrepreneurs and workers, enhance endogenous economic growth by augmenting the efficiency of investment in EHC rather than exclusively by themselves. We test these implications using data from Global Entrepreneurship Monitor’s Adult Population Survey of 63 countries over 2002-2010 and find robust support for these hypotheses.

Published: Isaac Ehrlich & Dunli Li & Zhiqiang Liu, 2017. "The Role of Entrepreneurial Human Capital as a Driver of Endogenous Economic Growth," Journal of Human Capital, vol 11(3), pages 310-351. citation courtesy of

November 2009Human Capital In China
with Haizheng Li, Barbara M. Fraumeni, Xiaojun Wang: w15500
In this paper we estimate China's human capital stock from 1985 to 2007 based on the Jorgenson-Fraumeni lifetime income approach. An individual's human capital stock is equal to the discounted present value of all future incomes he or she can generate. In our model, human capital accumulates through formal education as well as on-the-job training. The value of human capital is assumed to be zero upon reaching the mandatory retirement ages. China's total real human capital increased from 26.98 billion yuan in 1985 (i.e., the base year) to 118.75 billion yuan in 2007, implying an average annual growth rate of 6.78%. The annual growth rate increased from 5.11% during 1985-1994 to 7.86% during 1995-2007. Per capita real human capital increased from 28,044 yuan in 1985 to 106,462 yuan in 2007,...

Published: “Human Capital in China, 1985-2008,” with Haizheng Li, Yunling Liang, Zhiqiang Liu, and Xiaojun Wang, Review of Income and Wealth , volume 59, issue 2, June 2013, pp. 212-234.

 
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