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|Title:||Human Capital Accumulation by Low-Skilled Workers with Borrowing Constraints - A Welfare Analysis Based on the Lucas Rural-Urban Migration Model||Authors:||XU YIQIN||Keywords:||Human Capital,Rural-Urban Migration, Borrowing Constraints,Social Welfare||Issue Date:||24-Aug-2012||Citation:||XU YIQIN (2012-08-24). Human Capital Accumulation by Low-Skilled Workers with Borrowing Constraints - A Welfare Analysis Based on the Lucas Rural-Urban Migration Model. ScholarBank@NUS Repository.||Abstract:||Workers must allocate time to learning in order to accumulate human capital, forgoing employment income. Absent borrowing constraints, low-skilled workers can smooth their consumption by borrowing from future employment income, which is expected to grow with human capital. When the financing constraint is binding, the low-skilled workers must lower current consumption to finance learning and thus face a reduced incentive for human capital accumulation due to the greater opportunity cost of learning. This thesis proposes the Lucas-type endogenous rural-urban migration model incorporating the borrowing constraint and applies the results of the model to shed lights on China?s recent experience of urbanization and economic development.||URI:||http://scholarbank.nus.edu.sg/handle/10635/43752|
|Appears in Collections:||Ph.D Theses (Open)|
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