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Human capital, the structure of production, and growth

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  • Ciccone, Antonio
  • Papaioannou, Elias

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 0623.

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Date of creation: May 2006
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Handle: RePEc:ecb:ecbwps:20060623

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Keywords: Growth; Human capital; structure of production;

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