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Economic growth In the long run

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Author Info

  • Tamura, Robert
  • Dwyer, Gerald P.
  • Devereux, John
  • Baier, Scott

Abstract

We present new data on real output per worker, schooling per worker, human capital per worker, real physical capital per worker for 168 countries. The output data represent all available data from Maddison. The physical capital data represent all available data from Mitchell. One major contribution is a new set of human capital per worker, the foundation of which comes mostly from Mitchell. We provide original estimates of schooling per worker & per young worker. With our preferred measure of human capital, between 66 percent to 90 percent of all the variation in long run growth can be explained by variation in the growth of inputs per worker, and only 10-34 percent from variation in TFP growth! Furthermore between 66 percent and 80 percent of the variation in log levels can be explained by variation in the log input levels and only 20 percent to 34 percent is explained by variation in log TFP levels!

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 41324.

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Date of creation: 14 Sep 2012
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Handle: RePEc:pra:mprapa:41324

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Related research

Keywords: economic growth; human capital; variance decomposition;

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References

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  1. Oded Galor & Omer Moav, 2004. "From Physical to Human Capital Accumulation: Inequality and the Process of Development," Review of Economic Studies, Wiley Blackwell, vol. 71(4), pages 1001-1026, October.
  2. Oded Galor & Omer Moav & Dietrich Vollrath, 2009. "Inequality in Landownership, the Emergence of Human-Capital Promoting Institutions, and the Great Divergence," Review of Economic Studies, Wiley Blackwell, vol. 76(1), pages 143-179, 01.
  3. Lars Lefgren & Matthew J. Lindquist & David Sims, 2012. "Rich Dad, Smart Dad: Decomposing the Intergenerational Transmission of Income," Journal of Political Economy, University of Chicago Press, vol. 120(2), pages 268 - 303.
  4. Oded_Galor, 2004. "From Stagnation to Growth:Unified Growth Theory," Working Papers 2004-15, Brown University, Department of Economics.
  5. David N. Weil & Oded Galor, 2000. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," American Economic Review, American Economic Association, vol. 90(4), pages 806-828, September.
  6. Murphy, Kevin M & Simon, Curtis & Tamura, Robert, 2008. "Fertility decline, baby boom and economic growth," MPRA Paper 7719, University Library of Munich, Germany.
  7. Chen, Been-Lon, 2003. "An inverted-U relationship between inequality and long-run growth," Economics Letters, Elsevier, vol. 78(2), pages 205-212, February.
  8. Douglas Gollin, 2001. "Getting Income Shares Right," Department of Economics Working Papers 2001-11, Department of Economics, Williams College.
  9. Kevin K. Tsui, 2011. "More Oil, Less Democracy: Evidence from Worldwide Crude Oil Discoveries," Economic Journal, Royal Economic Society, vol. 121(551), pages 89-115, March.
  10. Kormendi, Roger C. & Meguire, Philip G., 1985. "Macroeconomic determinants of growth: Cross-country evidence," Journal of Monetary Economics, Elsevier, vol. 16(2), pages 141-163, September.
  11. Schoellman, Todd, 2008. "The Causes and Consequences of Cross-Country Differences in Schooling Attainment," MPRA Paper 9243, University Library of Munich, Germany.
  12. Hendricks, Lutz A., 2002. "How Important is Human Capital for Development? Evidence from Immigrant Earnings," Staff General Research Papers 11409, Iowa State University, Department of Economics.
  13. Robert Tamura, 2002. "Human capital and economic development," Working Paper 2002-5, Federal Reserve Bank of Atlanta.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. The latest on growth accounting
    by Economic Logician in Economic Logic on 2012-10-11 14:41:00
  2. [??]?????????????????
    by himaginary in himaginaryの日記 on 2012-10-13 07:00:00

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