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Human capital, the structure of production, and growth

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Author Info
Antonio Ciccone () (ICREA and Universitat Pompeu Fabra, Department of Economics and Business, Ramon Trias Fargas 25-27, 08005 Barcelona, Spain.)
Elias Papaioannou () (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany.)

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Abstract

Do high levels of human capital foster economic growth by facilitating technology adoption? If so, countries with more human capital should have adopted more rapidly the skilled-labor augmenting technologies becoming available since the 1970’s. High human capital levels should therefore have translated into fast growth in more compared to less human-capital-intensive industries in the 1980’s. Theories of international specialization point to human capital accumulation as another important determinant of growth in human-capital-intensive industries. Using data for a large sample of countries, we find significant positive effects of human capital levels and human capital accumulation on output and employment growth in human-capitalintensive industries. JEL Classification: E13; F11; O11.

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Paper provided by European Central Bank in its series Working Paper Series with number 623.

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Length: 59 pages
Date of creation: May 2006
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Handle: RePEc:ecb:ecbwps:20060623

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Keywords: Human capital growth structure of production.

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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. Elias Papaioannou, 2007. "Finance and growth - a macroeconomic assessment of the evidence from a European angle," Working Paper Series 787, European Central Bank. [Downloadable!]
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