Abstract:
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This paper aims to analyse the impact of human capital on business productivity,
focusing the analysis on the possible effect of the complementarity that exists between
human capital and new production technologies, particularly advanced manufacturing
technologies (AMTs) for the specific case of small and medium enterprises (SMEs) in
Catalonia. Additionally, following the theory of skill-biased technological change, the
paper analyses whether technological change produces bias exclusively in the skills
required for managers, or whether the bias extends to the skills required of production
staff. With this objective, we have compared the possible existence of complementarity
between AMTs and the level of human capital for different occupational groups. The
results confirm the complementary relationship between human capital and new
production technologies. The results by occupational group confirm that to maximise the
productivity of new technologies, skilled staff are needed both in management and
production, with managers and professionals as well as skilled operatives playing a vital role. Keywords: human capital, process technologies, complementarity, business productivity. (JEL D24, J24, O30). |