1. – Associate Professor, Department Of Economics, Panjab University, Chandigarh
| Received
15-Feb-2016 |
Accepted
- |
Published
15-Feb-2016 |
Abstract
This paper adopts a framework of analysis where education is seen as a narrow specialization to coordinate narrow specializations in production. There is the
symbiotic relationship when its development also improves the specializations in production. In this perspective, the human capital formation is an intrinsic aspect of the growth of firms who in trying to achieve higher market access (and higher returns) are responsible for new and good employment opportunities that in turn create external economies permitting higher development status. Much therefore depends on the growth of firms that creates such good employment opportunities.
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