Growth, technology, human capital, and exchange rates in developing countries.

Summary A developing country, faced with the changing world of today, wishes to find ways of development to be able if not to catch up, at least to integrate more, the outside world. The objective of this thesis is to try to answer this question. First, we construct a theoretical model of optimal growth that allows a developing country to know the conditions under which it can invest in physical capital, new technology and human capital. We show that, in general, it starts by investing only in physical capital. Later, he will invest in both physical and new technology capital. Finally, the investment in human capital necessary to produce the new technology good will accompany the other two investments in the last stage. It is interesting to note that we show that in the long run, the share destined for investments in new technology and human capital outweighs that destined for physical capital. Chapters 3 and 4 are devoted to the determination of an equilibrium exchange rate. This issue is essential for the outward opening of the economy. In particular, we propose a methodology to concretely evaluate the deviations of a country's exchange rate from its equilibrium level. We give an application of the FEER method to the case of Vietnam in relation to the Chinese and American currencies.