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Human Capital and Productivity in Microenterprises

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Author Info
Mungaray, Alejandro
Ramirez-Urquidy, Martin

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Abstract

The hypothesis that human capital increases productivity is tested using data from a sample of low value-added microenterprises. A special attribute of this paper is the join treatment of formal learning or training in education institutions, and informal training by experience of the owner in the firm management. Following previous studies, the relation between human capital and productivity is determined by estimating production functions with the inclusion of dummy variables to control for formal education and informal training by experience. Evidence of the linkage of human capital and productivity is reported. It is also reported that both types of investment in human capital have asymmetrical contribution to productivity, where the impact of experience is predominant. This allows concluding that the long-run existence of the firms in the sample is explained by the accumulation of experience in the management. Returns to education occur primarily for technical education and are lower than those generated by experiential learning in the firm management.

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File URL: http://mpra.ub.uni-muenchen.de/4064/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 4064.

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Date of creation: Apr 2007
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Publication status: Published in Investigacion Economica 260.LXVI(2007): pp. 81-115
Handle: RePEc:pra:mprapa:4064

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Related research
Keywords: Human Capital Productivity Small Enterprises

Find related papers by JEL classification:
M21 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - Business Economics

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  5. Bates, Timothy, 1990. "Entrepreneur Human Capital Inputs and Small Business Longevity," The Review of Economics and Statistics, MIT Press, vol. 72(4), pages 551-59, November. [Downloadable!] (restricted)
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  7. 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. [Downloadable!] (restricted)
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  8. Mefford, Robert N, 1986. "Introducing Management into the Production Function," The Review of Economics and Statistics, MIT Press, vol. 68(1), pages 96-104, February. [Downloadable!] (restricted)
  9. Black, Sandra E & Lynch, Lisa M, 1996. "Human-Capital Investments and Productivity," American Economic Review, American Economic Association, vol. 86(2), pages 263-67, May. [Downloadable!] (restricted)
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  12. Nadiri, M Ishaq, 1970. "Some Approaches to the Theory and Measurement of Total Factor Productivity: A Survey," Journal of Economic Literature, American Economic Association, vol. 8(4), pages 1137-77, December. [Downloadable!] (restricted)
  13. Barron, John M & Black, Dan A & Loewenstein, Mark A, 1987. "Employer Size: The Implications for Search, Training, Capital Investment, Starting Wages, and Wage Growth," Journal of Labor Economics, University of Chicago Press, vol. 5(1), pages 76-89, January. [Downloadable!] (restricted)
  14. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July. [Downloadable!] (restricted)
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