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Time series evidence on education and growth: the case of Guatemala, 1951-2002

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Author Info
Josef L. Loening () (World Bank and University of Goettingen)
Abstract

This article investigates the impact of education on economic growth in Guatemala for the 1951-2002 period. An error-correction model shows that a better-educated labor force has a positive and significant impact on economic growth. A growth-accounting framework demonstrates that human capital explains about 50 percent of output growth. The findings are robust to changes to the conditioning set of variable, while controlling for data issues and endogeneity. The results also compare favorably with the microeconomic evidence.

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Publisher Info
Article provided by Ilades-Georgetown University, Economics Department in its journal Revista de Analisis Economico.

Volume (Year): 19 (2004)
Issue (Month): 2 (December)
Pages: 3-40
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Handle: RePEc:ila:anaeco:v:19:y:2004:i:2:p:3-40

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Related research
Keywords: Education Economic Growth Econometrics Guatemala.

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Find related papers by JEL classification:
I20 - Health, Education, and Welfare - - Education - - - General
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models
C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
O54 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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  1. Barbara Sianesi & John Van Reenen, 2003. "The Returns to Education: Macroeconomics," Journal of Economic Surveys, Blackwell Publishing, vol. 17(2), pages 157-200, 04. [Downloadable!] (restricted)
  2. Temple, Jonathan R. W., 2001. "Generalizations that aren't? Evidence on education and growth," European Economic Review, Elsevier, vol. 45(4-6), pages 905-918, May. [Downloadable!] (restricted)
  3. Psacharopoulos, George & Patrinos, Harry Anthony, 2002. "Returns to investment in education : a further update," Policy Research Working Paper Series 2881, The World Bank. [Downloadable!]
    Other versions:
  4. Benhabib, Jess & Spiegel, Mark M., 1994. "The role of human capital in economic development evidence from aggregate cross-country data," Journal of Monetary Economics, Elsevier, vol. 34(2), pages 143-173, October. [Downloadable!] (restricted)
  5. Funkhouser, Edward, 1997. "Demand-Side and Supply-Side Explanations for Barriers to Labor Market Mobility in Developing Countries: The Case of Guatemala," Economic Development and Cultural Change, University of Chicago Press, vol. 45(2), pages 341-66, January.
  6. Charles I. Jones, 2004. "The Shape of Production Function and the Direction of Technical Change," NBER Working Papers 10457, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  7. Christopher A. Pissarides, 2000. "Human Capital and Growth: A Synthesis Report," OECD Development Centre Working Papers 168, OECD Development Centre. [Downloadable!]
  8. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326. [Downloadable!]
  9. Andrea Bassanini & Stefano Scarpetta, 2001. "Does Human Capital Matter for Growth in OECD Countries?: Evidence from Pooled Mean-Group Estimates," OECD Economics Department Working Papers 282, OECD Economics Department. [Downloadable!]
  10. Nehru, Vikram & Dhareshwar, Ashok & DEC, 1994. "New estimates of total factor productivity growth for developing and industrial countries," Policy Research Working Paper Series 1313, The World Bank. [Downloadable!]
  11. Armando Méndez Morales, 1998. "Determinants of Growth in an Error-Correction Model for El Salvador," IMF Working Papers 98/104, International Monetary Fund.
  12. 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. [Downloadable!] (restricted)
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  13. Mark Bils & Peter J. Klenow, 2000. "Does Schooling Cause Growth?," American Economic Review, American Economic Association, vol. 90(5), pages 1160-1183, December. [Downloadable!] (restricted)
  14. Jess Benhabib & Mark M. Spiegel, 2002. "Human capital and technology diffusion," Working Papers in Applied Economic Theory 2003-02, Federal Reserve Bank of San Francisco. [Downloadable!]
    Other versions:
  15. Reitschuler, Gerhard & Loening, Josef L., 2005. "Modeling the Defense-Growth Nexus in Guatemala," World Development, Elsevier, vol. 33(3), pages 513-526, March. [Downloadable!] (restricted)
  16. Jones, Charles I, 1995. "Time Series Tests of Endogenous Growth Models," The Quarterly Journal of Economics, MIT Press, vol. 110(2), pages 495-525, May. [Downloadable!] (restricted)
  17. Bernt Bratsberg, 2002. "School Quality and Returns to Education of U.S. Immigrants," Economic Inquiry, Oxford University Press, vol. 40(2), pages 177-198, April.
  18. Barro, Robert J & Lee, Jong-Wha, 2001. "International Data on Educational Attainment: Updates and Implications," Oxford Economic Papers, Oxford University Press, vol. 53(3), pages 541-63, July.
    Other versions:
  19. Romer, Paul M., 1990. "Human capital and growth: Theory and evidence," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 32, pages 251-286. [Downloadable!] (restricted)
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