New Technology, Human Capital and Growth for European Transitional Economies.  Cuong Le Van a ; b , Manh-Hung Nguyen c , Thai Bao Luong d , Tu Anh Nguyen a . a Centre d Economie de la Sorbonne, UniversitØ Paris-1, CNRS b Paris School of Economics c THEMA, UniversitØ Cergy-Pontoise d CEPN UniversitØ Paris 13 December 28, 2007 Abstract We consider a transitional country with three sectors in economy: con- sumption goods, new technology, and education. Productivity of the con- sumption goods sector depends on new technology and skilled labor used for production of the new technology. Then there might be three stages of economic growth. In the rst stage the country concentrates on produc- tion of consumption goods; in the second stage the country imports both physical capital and new technology capital; in the last stage the country imports new technology capital and invests in training and education of high skilled labor in the same time. Keywords: Optimal growth model, New technology capital, Human Cap- ital, Developing country. JEL Classication: D51, E13  M.H. Nguyen acknowledges the nancial support of the project: ANR-CEDEPTE Jeunes Chercheuses et Jeunes Chercheurs,n 0 ANR-05-JCJC-0134-01. 1