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Levels of education, growth and policy complementarities

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Author Info
Marta Simões () (GEMF and Faculdade de Economia, Universidade de Coimbra)
Adelaide Duarte () (GEMF and Faculdade de Economia, Universidade de Coimbra)

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Abstract

Human capital acquired in the formal education sector is essential for knowledge creation and dissemination but the theoretical and empirical growth literature identifies other major determinants of innovation and imitation activities (R&D, international trade and FDI). This paper is an empirical investigation in a panel data framework of the effects of education and its sub-categories on economic growth emphasizing its complementarity with the other major determinants of technological change and growth. For this purpose we focus on a sample of OECD countries during the last decades of the twentieth century and use an extended and augmented version of the Benhabib and Spiegel (1994) growth specification that considers the role of education in innovation and imitation activities and that interacts education with the other major determinants of technological change. The results reveal the importance of education for growth through technology diffusion and domestic innovation activities. To fully exploit the benefits from R&D expenses in terms of growth the average OECD country needs a sufficient level of secondary and tertiary education and to benefit from the technology incorporated in imports of machinery countries need a sufficient level of overall education.

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Paper provided by GEMF - Faculdade de Economia, Universidade de Coimbra in its series GEMF Working Papers with number 2007-02.

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Length: 33 pages
Date of creation: 2007
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Handle: RePEc:gmf:wpaper:2007-02

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Related research
Keywords: education; innovation; technological diffusion; panel data;

Find related papers by JEL classification:
O33 - Economic Development, Technological Change, and Growth - - Technological Change - - - Technological Change: Choices and Consequences; Diffusion Processes
O38 - Economic Development, Technological Change, and Growth - - Technological Change - - - Government Policy
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data

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    Other versions:
  4. Caselli, Francesco & Esquivel, Gerardo & Lefort, Fernando, 1996. " Reopening the Convergence Debate: A New Look at Cross-Country Growth Empirics," Journal of Economic Growth, Springer, vol. 1(3), pages 363-89, September.
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  6. Jörg MAYER, 2001. "Technology Diffusion, Human Capital And Economic Growth In Developing Countries," UNCTAD Discussion Papers 154, United Nations Conference on Trade and Development. [Downloadable!]
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  10. Angel de la Fuente & Rafael Dom?ech, 2002. "Human capital in growth regressions: how much difference does data quality make? An update and further results," UFAE and IAE Working Papers 537.02, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
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  11. Engelbrecht, Hans-Jurgen, 1997. "International R&D spillovers, human capital and productivity in OECD economies: An empirical investigation," European Economic Review, Elsevier, vol. 41(8), pages 1479-1488, August. [Downloadable!] (restricted)
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  15. repec:bep:glecon:4:2007:2:3 is not listed on IDEAS
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