Panel Data Evidence on the Role of Education in the Growth-Volatility Relationship
AbstractThe investigation of the growth-volatility link is an important one in empirical macroeconomics. There is no empirical evidence supporting the predictions of recent theoretical models that incorporate and explicitly recognize the role of human capital in this link. Using a panel data, we show empirically how the detrimental effect of output volatility on growth is diluted by education. We provide robustness checks and policy implications of our finding.
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Bibliographic InfoPaper provided by Department of Economics, University of Leicester in its series Discussion Papers in Economics with number 12/04.
Date of creation: Mar 2012
Date of revision:
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Postal: Department of Economics University of Leicester, University Road. Leicester. LE1 7RH. UK
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Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O49 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-03-28 (All new papers)
- NEP-EDU-2012-03-28 (Education)
- NEP-LAB-2012-03-28 (Labour Economics)
- NEP-MAC-2012-03-28 (Macroeconomics)
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