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Uma análise do capital humano sobre o nível de renda dos estados brasileiros: MRW versus Mincer

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  • Ricardo Corrêa Cangussu

    ()

  • Márcio A. Salvato

    ()
    (Department of Economics, Pontifícia Universidade Católica do Paraná)

  • Luciano Nakabashi

    ()
    (Department of Economics, Universidade Federal do Paraná)

Abstract

Human capital, productivity and physical capital are considered the main factors in the economies’ GDP per capita determination. According to the neoclassical approach, human capital accumulation explains about a third of the variation in per capita income across countries. However, there is no consensus on the ways in which human capital influences GDP per capita. The present study’s goal is to compare two production functions functional forms for the Brazilian States: the one developed by SOLOW (1956) and the one developed by MINCER (1974). The marginal return of education also has been estimated and we have analyzed the relevance of human capital on GDP per capita determination through a variety of estimation methods, for the 1980-2002 period. The empirical results rejected the neoclassical specification with human capital in favor of the mincerian’s specification. The estimated marginal return of education is 15% and the empirical findings support the theory that states that human capital is one of the main factors affecting income level.

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Bibliographic Info

Paper provided by Universidade Federal do Paraná, Department of Economics in its series Working Papers with number 0073.

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Length: 19 pages
Date of creation: 2008
Date of revision:
Handle: RePEc:fup:wpaper:0073

Note: Creation Date corresponds to the year in which the paper was published on the Department of Economics website. The paper may have been written a small number of months before its publication date.
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Related research

Keywords: Human Capital; Economic Growth; Mincerian Production Function; Return of Education;

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References

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  1. Temple, Jonathan, 1999. "A positive effect of human capital on growth," Economics Letters, Elsevier, vol. 65(1), pages 131-134, October.
  2. Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," Working papers 527, Massachusetts Institute of Technology (MIT), Department of Economics.
  3. Islam, Nazrul, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, MIT Press, vol. 110(4), pages 1127-70, November.
  4. Afonso Ferreira, 2000. "Convergence in Brazil: recent trends and long-run prospects," Applied Economics, Taylor & Francis Journals, vol. 32(4), pages 479-489.
  5. Hartog,Joop & Maassen van den Brink,Henriëtte (ed.), 2007. "Human Capital," Cambridge Books, Cambridge University Press, number 9780521873161, December.
  6. 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.
  7. Johnson, Paul & Durlauf, Steven N & Temple, Johnathan R. W., 2004. "Growth Econometrics," Vassar College Department of Economics Working Paper Series 61, Vassar College Department of Economics.
    • Durlauf, Steven N. & Johnson, Paul A. & Temple, Jonathan R.W., 2005. "Growth Econometrics," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 8, pages 555-677 Elsevier.
  8. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-80, December.
  9. Luciano Nakabashi & Márcio A. Salvato, 2006. "Human Capital Quality in the Brazilian States," Working Papers 0037, Universidade Federal do Paraná, Department of Economics.
    • Luciano Nakabashi & Márcio A. Salvato, 2007. "Human Capital Quality in the Brazilian States," Economia, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 8(2), pages 211–222.
  10. Theodore W. Schultz, 1962. "Reflections on Investment in Man," Journal of Political Economy, University of Chicago Press, vol. 70, pages 1.
  11. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
  12. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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