Quality-adjusted Human Capital and Productivity Growth
AbstractBoth the quality and quantity of human capital are important for growth. Although the quality aspects of human capital may have greater potential in explaining growth, given that the quantity effects of human capital have been found to be ambiguous, they have long been ignored in empirical growth literature. This paper empirically tests the joint effects of both the quantity and quality of human capital in stimulating productivity growth for a panel of 89 countries over the period 1970-2007. Based on different measures of human capital quantity and quality, the results show that the growth effects of educational attainment can be significantly enhanced when the quality of schooling is improved. The joint effect of human capital quality and quantity is found to be stronger in developing countries.
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Bibliographic InfoPaper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number 48-10.
Length: 58 pages
Date of creation: May 2010
Date of revision:
Contact details of provider:
Postal: Department of Economics, Monash University, Victoria 3800, Australia
Web page: http://www.buseco.monash.edu.au/eco/
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Find related papers by JEL classification:
- I20 - Health, Education, and Welfare - - Education - - - General
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-11-06 (All new papers)
- NEP-EFF-2010-11-06 (Efficiency & Productivity)
- NEP-FDG-2010-11-06 (Financial Development & Growth)
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Open Access publications from Universidad Carlos III de Madrid
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