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The role of human capital in economic growth: new results and alternative interpretations

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  • Gundlach, Erich

Abstract

While it is largely uncontroversial that human capital can be considered as one of the shaping factors of economic growth, no agreement exists on the specific role of human capital formation. Competing theories all stressing different aspects of human capital formation are not in short supply, but the empirical evidence in support of one view or another is largely missing. To be able to discriminate between alternative interpretations, it would be useful to know whether physical or human capital has a larger impact on output per capita and whether the returns to all capital are constant, increasing, or decreasing. Depending on the answers, rather different implications for the role of human capital could emerge.

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Bibliographic Info

Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 659.

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Date of creation: 1994
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Handle: RePEc:kie:kieliw:659

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References

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  1. Barro, Robert J. & Lee, Jong-Wha, 1993. "International comparisons of educational attainment," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 363-394, December.
  2. 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.
  3. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  4. Sergio T. Rebelo, 1990. "Long Run Policy Analysis and Long Run Growth," NBER Working Papers 3325, National Bureau of Economic Research, Inc.
  5. Summers, Robert & Heston, Alan, 1988. "A New Set of International Comparisons of Real Product and Price Levels Estimates for 130 Countries, 1950-1985," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 34(1), pages 1-25, March.
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Citations

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Cited by:
  1. Erich Gundlach, 1997. "Human capital and economic development: A macroeconomic assessment," Intereconomics: Review of European Economic Policy, Springer, vol. 32(1), pages 23-35, January.
  2. Gundlach, Erich, 1996. "Solow meets market socialism: regional convergence of output per worker in China," Kiel Working Papers 726, Kiel Institute for the World Economy.
  3. Chen, Derek H. C. & Dahlman, Carl J., 2004. "Knowledge and development : a cross-section approach," Policy Research Working Paper Series 3366, The World Bank.
  4. Maurer, Rainer, 1995. "Is economic growth a random walk?," Kiel Working Papers 677, Kiel Institute for the World Economy.
  5. Foders, Federico, 1998. "A note on economic growth and human capital in Eastern Europe," Kiel Working Papers 864, Kiel Institute for the World Economy.
  6. Gundlach, Erich & Nunnenkamp, Peter, 1997. "Labor markets in the global economy: how to prevent rising wage gaps and unemployment," Kiel Discussion Papers 305, Kiel Institute for the World Economy (IfW).
  7. Erich Gundlach, 1997. "Openness and economic growth in developing countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 133(3), pages 479-496, September.
  8. Gundlach, Erich, 1997. "Regional convergence of output per worker in China : a neoclassical interpretation," Open Access Publications from Kiel Institute for the World Economy 1765, Kiel Institute for the World Economy (IfW).
  9. Gundlach, Erich, 1998. "Das Wirtschaftswachstum der Nationen im zwanzigsten Jahrhundert," Open Access Publications from Kiel Institute for the World Economy 1756, Kiel Institute for the World Economy (IfW).
  10. Nunnenkamp, Peter, 1996. "The changing pattern of foreign direct investment in Latin America," Kiel Working Papers 736, Kiel Institute for the World Economy.
  11. Nunnenkamp, Peter, 1997. "Herausforderungen der Globalisierung für Brasilien," Open Access Publications from Kiel Institute for the World Economy 1705, Kiel Institute for the World Economy (IfW).
  12. Gundlach, Erich, 2001. "Education and economic development : an empirical perspective," Open Access Publications from Kiel Institute for the World Economy 2629, Kiel Institute for the World Economy (IfW).
  13. Nunnenkamp, Peter, 1997. "Aufhol- und Abkopplungsprozesse im europäischen Binnenmarkt," Open Access Publications from Kiel Institute for the World Economy 1715, Kiel Institute for the World Economy (IfW).
  14. Gundlach, Erich & Nunnenkamp, Peter, 1996. "Some consequences of globalization for developing countries," Kiel Working Papers 753, Kiel Institute for the World Economy.
  15. Nunnenkamp, Peter, 1998. "Wirtschaftliche Aufholprozesse und Globalisierungskrisen in Entwicklungsländern : Implikationen für die nationale Wirtschaftspolitik und den globalen Ordnungsrahmen," Kiel Discussion Papers 328, Kiel Institute for the World Economy (IfW).
  16. Self, Sharmistha & Grabowski, Richard, 2004. "Does education at all levels cause growth? India, a case study," Economics of Education Review, Elsevier, vol. 23(1), pages 47-55, February.
  17. Gundlach, Erich, 1999. "Investment in education: some lessons from the international evidence for the Baltic states," Kiel Discussion Papers 333, Kiel Institute for the World Economy (IfW).
  18. Nunnenkamp, Peter, 1996. "Winners and losers in the global economy : recent trends in the international division of labour and policy challenges," Kiel Discussion Papers 281, Kiel Institute for the World Economy (IfW).

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