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Human Capital Externalities and Growth

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  • Carolina Arteaga Cabrales

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Abstract

This paper provides evidence of positive externalities in human capital that help to explain divergences in development worldwide. We estimate the supply and demand for human capital using a five-year panel involving 60 countries, covering the period 1980-2000, and found that there exists positive externalities in human capital accumulation close to one. This translates into increasing returns to scale and increasing marginal returns in human capital.

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Article provided by BANCO DE LA REPÚBLICA - ESPE in its journal ENSAYOS SOBRE POLÍTICA ECONÓMICA.

Volume (Year): (2011)
Issue (Month): ()
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Handle: RePEc:col:000107:010037

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Keywords: Economic growth; human capital; externalities;

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  18. Tjalling C. Koopmans, 1963. "On the Concept of Optimal Economic Growth," Cowles Foundation Discussion Papers 163, Cowles Foundation for Research in Economics, Yale University.
  19. Stark, Oded & Wang, Yong, 2004. "The Intergenerational Overlap and Human Capital Formation," Economics Series 152, Institute for Advanced Studies.
  20. Blankenau, William F. & Simpson, Nicole B., 2004. "Public education expenditures and growth," Journal of Development Economics, Elsevier, vol. 73(2), pages 583-605, April.
  21. Michel Beine & Frederic Docquier & Hillel Rapoport, 2006. "Measuring International Skilled Migration: New Estimates Controlling for Age of Entry," CReAM Discussion Paper Series 0613, Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London.
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