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

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Author Info
Adriana 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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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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Related research
Keywords: economic development; human capital; rate of return;

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Find related papers by JEL classification:
I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
O18 - Economic Development, Technological Change, and Growth - - Economic Development - - - Regional, Urban, and Rural Analyses

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  1. Sakellaris, Plutarchos & Spilimbergo, Antonio, 2000. "Business cycles and investment in human capital: international evidence on higher education," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 52(1), pages 221-256, June. [Downloadable!] (restricted)
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  2. Sala-i-Martin, Xavier X, 1996. "The Classical Approach to Convergence Analysis," Economic Journal, Royal Economic Society, vol. 106(437), pages 1019-36, July. [Downloadable!] (restricted)
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  3. 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)
  4. Bond, Stephen Roy & Hoeffler, Anke & Temple, Jonathan, 2001. "GMM Estimation of Empirical Growth Models," CEPR Discussion Papers 3048, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  5. Theodore W. Schultz, 1962. "Reflections on Investment in Man," Journal of Political Economy, University of Chicago Press, vol. 70, pages 1. [Downloadable!] (restricted)
  6. Lorenzo Serrano Martínez, 1995. "Indicadores De Capital Humano Y Productividad," Working Papers. Serie EC 1995-16, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
  7. de la Fuente, Angel, 2002. "On the sources of convergence: A close look at the Spanish regions," European Economic Review, Elsevier, vol. 46(3), pages 569-599, March. [Downloadable!] (restricted)
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  8. Azariadis, Costas & Drazen, Allan, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, MIT Press, vol. 105(2), pages 501-26, May. [Downloadable!] (restricted)
  9. Pritchett, Lant, 1996. "Where has all the education gone?," Policy Research Working Paper Series 1581, The World Bank. [Downloadable!]
  10. 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. [Downloadable!]
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  11. Adriana Di Liberto & James Symons, 2003. "Some Econometric Issues in Convergence Regressions," Manchester School, University of Manchester, vol. 71(3), pages 293-307, 06. [Downloadable!] (restricted)
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  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. Kyriacou, George A., 1991. "Level and Growth Effects of Human Capital: A Cross-Country Study of the Convergence Hypothesis," Working Papers 91-26, C.V. Starr Center for Applied Economics, New York University. [Downloadable!]
  14. Mulligan, Casey B & Sala-i-Martin, Xavier, 2000. " Measuring Aggregate Human Capital," Journal of Economic Growth, Springer, vol. 5(3), pages 215-52, September. [Downloadable!] (restricted)
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  15. Griliches, Zvi, 1997. "Education, Human Capital, and Growth: A Personal Perspective," Journal of Labor Economics, University of Chicago Press, vol. 15(1), pages S330-44, January. [Downloadable!] (restricted)
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  16. Psacharopoulos, George, 1994. "Returns to investment in education: A global update," World Development, Elsevier, vol. 22(9), pages 1325-1343, September. [Downloadable!] (restricted)
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  17. 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!]
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  18. Funkhouser, Edward, 1998. "Changes in the returns to education in Costa Rica," Journal of Development Economics, Elsevier, vol. 57(2), pages 289-317. [Downloadable!] (restricted)
  19. Murphy, Kevin M & Shleifer, Andrei & Vishny, Robert W, 1991. "The Allocation of Talent: Implications for Growth," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 503-30, May. [Downloadable!] (restricted)
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  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. [Downloadable!]
  21. Alan B. Krueger & Mikael Lindahl, 2001. "Education for Growth: Why and for Whom?," Journal of Economic Literature, American Economic Association, vol. 39(4), pages 1101-1136, December. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Gerardo 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. [Downloadable!]
  2. OA. 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. [Downloadable!]
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