Keywords: nanotechnology development, human capital, USA, United States, China, emerging markets, economic growth, early sector investors, South Korea, Japan, graduates, patents
A comparison of human capital levels and the future prospect of the nanotechnology industry in early sector investors and recent emerging markets
Nanotechnology has the potential to create immense economic growth in the future for developed and developing countries. Given that nanotechnology and the industrial processes require a high level of human capital investment there are concerns that the benefits may not be attainable by all countries. Emerging markets like China and South Korea are rapidly developing their nanotechnology sectors as evidenced by the increasing monetary investments, educational investment and the number of nanotechnology related patents over time. This paper investigates the relationship between human capital levels and nanotechnology development by: 1) determining the numbers of graduates in the field of science and engineering; 2) nanotechnology outputs measured by the number of patents. The analysis shows human capital plays a role in the future prospects of both early nanotechnology investors (USA and Japan) and recent emerging markets (China and South Korea).