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Convergence clubs and the role of human capital in Spanish Regional Growth

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  • A. Di Liberto

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Abstract

This paper estimates returns to schooling at Spanish regional level. We identify two different convergence clubs of rich/educated and poor/uneducated regions. Overall our results stress the importance of the relationship existing between the level of development of an economy and returns to different levels of education. In particular, the Spanish evidence suggests that, while primary schooling seems to contribute to growth in poorly developed areas, more skilled human capital has a stronger growth-enhancing effect in more developed economies. In other words, our evidence emphasizes that there is likely to be heterogeneity in rates of returns to education across economies since the effect of schooling in growth regressions is influenced by the level of development of an economy. Failing to take this heterogeneity into account in empirical analysis may produce misleading results

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Bibliographic Info

Paper provided by Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia in its series Working Paper CRENoS with number 200418.

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Date of creation: 2004
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Handle: RePEc:cns:cnscwp:200418

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Keywords: economic development; human capital; rate of return;

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References

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  1. Theodore W. Schultz, 1962. "Reflections on Investment in Man," Journal of Political Economy, University of Chicago Press, vol. 70, pages 1.
  2. Funkhouser, Edward, 1998. "Changes in the returns to education in Costa Rica," Journal of Development Economics, Elsevier, vol. 57(2), pages 289-317.
  3. Zvi Griliches, 1996. "Education, Human Capital, and Growth: A Personal Perspective," NBER Working Papers 5426, National Bureau of Economic Research, Inc.
  4. de la Fuente, A, 1996. "On the Sources of Convergence : A Close Look at the Spanish Regions," UFAE and IAE Working Papers 362.96, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  5. Pritchett, Lant, 1996. "Where has all the education gone?," Policy Research Working Paper Series 1581, The World Bank.
  6. Alan B. Krueger & Mikael Lindahl, 2000. "Education for Growth: Why and For Whom?," NBER Working Papers 7591, National Bureau of Economic Research, Inc.
  7. Adriana Di Liberto & James Symons, 2003. "Some Econometric Issues in Convergence Regressions," Manchester School, University of Manchester, vol. 71(3), pages 293-307, 06.
  8. Plutarchos Sakellaris & Antonio Spilimbergo, 1999. "Business Cycles and Investment in Human Capital: International Evidence on Higher Education," Electronic Working Papers 99-009, University of Maryland, Department of Economics.
  9. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
  10. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1990. "The Allocation of Talent: Implications for Growth," NBER Working Papers 3530, National Bureau of Economic Research, Inc.
  11. Mulligan, Casey B & Sala-i-Martin, Xavier, 2000. " Measuring Aggregate Human Capital," Journal of Economic Growth, Springer, vol. 5(3), pages 215-52, September.
  12. Ruth A. Judson & Ann L. Owen, 1997. "Estimating dynamic panel data models: a practical guide for macroeconomists," Finance and Economics Discussion Series 1997-3, Board of Governors of the Federal Reserve System (U.S.).
  13. Sala-i-Martin, Xavier X, 1996. "The Classical Approach to Convergence Analysis," Economic Journal, Royal Economic Society, vol. 106(437), pages 1019-36, July.
  14. Psacharopoulos, George, 1993. "Returns to investment in education : a global update," Policy Research Working Paper Series 1067, The World Bank.
  15. Lorenzo Serrano-Martínez, 1999. "Capital humano, estructura sectorial y crecimiento en las regiones españolas," Investigaciones Economicas, Fundación SEPI, vol. 23(2), pages 225-249, May.
  16. Jess Benhabib & Mark M. Spiegel, 2002. "Human capital and technology diffusion," Working Paper Series 2003-02, Federal Reserve Bank of San Francisco.
  17. Lorenzo Serrano Martínez, 1995. "Indicadores De Capital Humano Y Productividad," Working Papers. Serie EC 1995-16, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  18. Stephen Bond & Anke Hoeffler & Jonathan Temple, 2001. "GMM Estimation of Empirical Growth Models," Economics Papers 2001-W21, Economics Group, Nuffield College, University of Oxford.
  19. Azariadis, Costas & Drazen, Allan, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, MIT Press, vol. 105(2), pages 501-26, May.
  20. Donald Robertson & James Symons, 2000. "Factor Residuals in SUR Regressions: Estimating Panels Allowing for Cross Sectional Correlation," CEP Discussion Papers dp0473, Centre for Economic Performance, LSE.
  21. Arantza Gorostiaga, 1999. "¿Cómo afecta el capital público y el capital humano al crecimiento?," Investigaciones Economicas, Fundación SEPI, vol. 23(1), pages 95-114, January.
  22. 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.
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Cited by:
  1. G. Marletto, 2006. "La politica dei trasporti come politica per l’innovazione: spunti da un approccio evolutivo," Working Paper CRENoS 200605, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  2. Artelaris, Panagiotis & Arvanitidis, Paschalis & Petrakos, George, 2006. "Theoretical and Methodological Study on Dynamic Growth Regions and Factors Explaining their Growth Performance," Papers DYNREG02, Economic and Social Research Institute (ESRI).
  3. Francesco Pigliaru, 2009. "The Economic Lag of the Mezzogiorno: A Steady State?," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 3, August.
  4. O. Carboni & G. Medda, 2007. "Government Size and the Composition of Public Spending in a Neoclassical Growth Model," Working Paper CRENoS 200701, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.

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