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Regional Heterogeneity in the Private and Social Returns to Human Capital

Author

Listed:
  • Enrique López-Bazo
  • Rosina Moreno

Abstract

Abstract It is thought that policies aimed at encouraging the accumulation of human capital in less productive regions can constitute a key factor in development. However, the effectiveness of this policy depends in large part on each region's capacity to give returns to human capital. The aim of this article is to demonstrate the existence of substantial spatial variations in private and aggregate returns to human capital, indicating that development policies based on stimulating the accumulation of education differ in effectiveness. Results for the Spanish regions suggest that regional variations in social returns are greater than those in private returns.

Suggested Citation

  • Enrique López-Bazo & Rosina Moreno, 2007. "Regional Heterogeneity in the Private and Social Returns to Human Capital," Spatial Economic Analysis, Taylor & Francis Journals, vol. 2(1), pages 23-44.
    • Handle: RePEc:taf:specan:v:2:y:2007:i:1:p:23-44
    DOI: 10.1080/17421770701232459
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    References listed on IDEAS

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    1. George Psacharopoulos & Harry Anthony Patrinos, 2004. "Returns to investment in education: a further update," Education Economics, Taylor & Francis Journals, vol. 12(2), pages 111-134.
    2. Pritchett, Lant, 1996. "Where has all the education gone?," Policy Research Working Paper Series 1581, The World Bank.
    3. Angel de la Fuente & Rafael Domenech & Juan Francisco Jimeno, 2003. "Human capital as a factor of growth and employment at the regional level. The case of Spain," UFAE and IAE Working Papers 610.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    4. Chambers,Robert G., 1988. "Applied Production Analysis," Cambridge Books, Cambridge University Press, number 9780521314275.
    5. Barbara Sianesi & John Van Reenen, 2000. "The Returns to Education: A Review of the Macro-Economic Literature," CEE Discussion Papers 0006, Centre for the Economics of Education, LSE.
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    Citations

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    Cited by:

    1. Rosa Sanchis-Guarner & Enrique Lopez-Bazo, 2006. "Are Skilled Workers More Attracted to Economic Agglomerations?," ERSA conference papers ersa06p120, European Regional Science Association.
    2. B. Fingleton & P. Cheshire & H. Garretsen & D. Igliori & P. McCann & J. McCombie & V. Monastiriotis & B. Moore & M. Roberts, 2007. "Editorial," Spatial Economic Analysis, Taylor & Francis Journals, vol. 2(1), pages 1-5.
    3. Catarina Moura e Sa Cardoso & Geetha Ravishankar, 2015. "Productivity growth and convergence: a stochastic frontier analysis," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 42(2), pages 224-236, May.
    4. Scott Loveridge & Janet Bokemeier & Peter Kakela & Elan Satriawan, 2010. "Are All Discount Rates Equal? A Note On Time Preferences Across Public And Private Benefits In Michigan'S Upper Peninsula," Journal of Regional Science, Wiley Blackwell, vol. 50(4), pages 858-871, October.
    5. Youngjin Woo & Euijune Kim & Jaewon Lim, 2017. "The Impact of Education and R&D Investment on Regional Economic Growth," Sustainability, MDPI, vol. 9(5), pages 1-18, April.

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    More about this item

    Keywords

    Education; productivity; returns to capital; J24; O18; O47; R11;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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