Investing in Human Capital Drives Economic Growth in ICT-based Economies.
This paper explores how investing in education and human capital drives economic growth in a model of an economy focused on information and communication technology. The research shows that human capital accumulation, through education, is the main driver of growth in this model. Additionally, the model does not exhibit scale effects, and the study reveals interesting connections between market power and growth, as well as the impact of different types of subsidies on the economy.