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Human Capital and Economic Growth in OECD Countries

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Author Info
Torge Midendorf ()

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Abstract

The results of the PISA 2000 study renewed the interest in the contribution of human capital to economic growth. So far the exploration of large country comparisons delivered rather mixed results. Concentrating on those OECD member countries which participated in PISA 2000, this paper uses panel data estimation techniques to refine this analysis. Estimation results reveal a positive impact of the human capital stock on economic growth suggesting that an increase in the average schooling years by one year yields a rise in the GDP growth rate of about 0.5 percentage points. However, when taking possible endogeneity into account in an instrumental variables approach, these conclusions on the impact of the level of human capital on economic growth is demonstrated to be rather fragile.

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Publisher Info
Paper provided by Rheinisch-Westfälisches Institut für Wirtschaftsforschung in its series RWI Discussion Papers with number 0030.

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Length: 22 pages
Date of creation: Jun 2005
Date of revision:
Handle: RePEc:rwi:dpaper:0030

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Related research
Keywords: Human capital accumulation; Convergence; Fixed-effects estimation; Instrumental variable estimation;

Find related papers by JEL classification:
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
I20 - Health, Education, and Welfare - - Education - - - General
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data

References listed on IDEAS
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    Other versions:
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