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Human Capital and Economic Growth: A Quantile Regression Approach

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  • Miles, W.
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    Abstract

    A number of previous studies (Barro and Sala-i-Martin, Grier) have attempted to gauge the differential impact of regressors such as human capital and investment on the performance of fast and slow growing economies. To date, most such studies impose a single marginal impact on all countries for each such determinant by estimating only one regression coefficient for the whole sample. This paper seeks to determine whether there are different payoffs to fast and slow growing countries from growth determinants, and employs the technique of quantile regression, a method frequently used in many labor and other microeconomic studies. Results indicate that human capital in particular has a larger marginal benefit for countries that have experienced fast growth, but little significant impact on slow growing nations. Policy implications, however, are not clear-cut and require careful consideration.

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    File URL: http://www.usc.es/economet/reviews/aeid421.pdf
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    Bibliographic Info

    Article provided by Euro-American Association of Economic Development in its journal Applied Econometrics and International Development.

    Volume (Year): 4 (2004)
    Issue (Month): 2 ()
    Pages:

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    Handle: RePEc:eaa:aeinde:v:4:y:2004:i:1_9

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    1. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May.
    2. Koenker,Roger, 2005. "Quantile Regression," Cambridge Books, Cambridge University Press, number 9780521845731, October.
    3. Edward E. Leamer, 1982. "Let's Take the Con Out of Econometrics," UCLA Economics Working Papers 239, UCLA Department of Economics.
    4. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January.
    5. Raul A. Barreto & Anthony W. Hughes, 2004. "Under Performers and Over Achievers: A Quantile Regression Analysis of Growth," The Economic Record, The Economic Society of Australia, vol. 80(248), pages 17-35, 03.
    6. Koenker, Roger W & Bassett, Gilbert, Jr, 1978. "Regression Quantiles," Econometrica, Econometric Society, vol. 46(1), pages 33-50, January.
    7. Levine, Ross & Renelt, David, 1992. "A Sensitivity Analysis of Cross-Country Growth Regressions," American Economic Review, American Economic Association, vol. 82(4), pages 942-63, September.
    8. Guisan, M.Carmen & Aguayo, Eva & Exposito, Pilar, 2001. "Economic growth and cycles: Cross-country models of education, industry and fertility and international comparisons," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 1(1), pages 9-37.
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    Cited by:
    1. Laurini, Márcio P., 2007. "A note on the use of quantile regression in beta convergence analysis," Insper Working Papers wpe_95, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    2. Marta Simões & João Sousa Andrade & Adelaide Duarte, 2012. "Convergence and Growth: Portugal in the EU 1986-2010," GEMF Working Papers 2012-13, GEMF - Faculdade de Economia, Universidade de Coimbra.

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