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Dimensions of Economic Theory and PolicyEssays for Anjan Mukherji$
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Krishnendu Ghosh Dastidar, Hiranya Mukhopadhyay, and Uday Bhanu Sinha

Print publication date: 2011

Print ISBN-13: 9780198073970

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780198073970.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use.date: 05 July 2022

Private Investment in Human Capital and Industrial Development

Private Investment in Human Capital and Industrial Development

The Case of the Indian Software Industry*

(p.301) 18 Private Investment in Human Capital and Industrial Development
Dimensions of Economic Theory and Policy

Ashish Arora

Surendrakumar Bagde

Oxford University Press

This chapter explores the role of human capital in the regional location of the software industry, focusing on private investment in the software exports industry of India during 1990–2003. The data support the significant effect of human capital on the growth of software exports even when other relevant factors are controlled. Pronounced differences in stocks of relevant human capital (that is, engineers) across Indian states have driven software exports from these states. The bulk of inter-state variations cannot be explained by the willingness of states to invest in engineering colleges. Instead, states which allowed private engineering colleges to enter early gained an early advantage that has persisted for almost fifteen years. In addition, the regional growth of the software exports industry is associated with the initial as well as current size of the electronics hardware industry.

Keywords:   software industry, India, human capital, engineers, engineering colleges, software exports industry, private investment

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