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High-Tech Human Capital: Do the Richest Countries Invest the Most?

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Listed author(s):
  • Neves Sequeira Tiago

    ()

    (Departamento de Gestão e Economia - Universidade da Beira Interior, Faculdade de Economia - Universidade Nova de Lisboa)

Abstract

In this paper we show that the richest countries are investing proportionally less than middle income countries in engineering and technical human capital. We generalize this result, controlling for country-specific effects, cross-time error correlations, heteroskedasticity, the presence of outliers and the introduction of other explanatory variables. Thus, we establish an unexpected stylized fact (about human capital composition): the proportion of high-tech human capital in tertiary education presents an inverted U-shaped relationship with GDP per capita. This is interesting because Research and Development (R&D) endogenous growth models predict and most evidence show that investment in R&D increases with economic development.

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File URL: https://www.degruyter.com/view/j/bejm.2003.3.1/bejm.2003.3.1.1115/bejm.2003.3.1.1115.xml?format=INT
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Article provided by De Gruyter in its journal The B.E. Journal of Macroeconomics.

Volume (Year): 3 (2003)
Issue (Month): 1 (September)
Pages: 1-28

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Handle: RePEc:bpj:bejmac:v:topics.3:y:2003:i:1:n:13
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Find related papers by JEL classification:
  • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
  • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
  • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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  1. La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 1999. "The Quality of Government," Journal of Law, Economics and Organization, Oxford University Press, vol. 15(1), pages 222-279, April.
  2. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1991. "The Allocation of Talent: Implications for Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 503-530.
  3. Funke, Michael & Strulik, Holger, 2000. "On endogenous growth with physical capital, human capital and product variety," European Economic Review, Elsevier, vol. 44(3), pages 491-515, March.
  4. Tavares, Jose & Wacziarg, Romain, 2001. "How democracy affects growth," European Economic Review, Elsevier, vol. 45(8), pages 1341-1378, August.
  5. Acemoglu, Daron, 2001. "Good Jobs versus Bad Jobs," Journal of Labor Economics, University of Chicago Press, vol. 19(1), pages 1-21, January.
  6. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
  7. Barro, Robert J & Lee, Jong-Wha, 2001. "International Data on Educational Attainment: Updates and Implications," Oxford Economic Papers, Oxford University Press, vol. 53(3), pages 541-563, July.
  8. Robert J. Barro, 2001. "Human Capital and Growth," American Economic Review, American Economic Association, vol. 91(2), pages 12-17, May.
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Cited by:

  1. Tiago Neves Sequeira, 2008. "Transitional Dynamics Of An Endogenous Growth Model With An Erosion Effect," Manchester School, University of Manchester, vol. 76(4), pages 436-452, 07.
  2. Neves Sequeira Tiago & Reis Ana B, 2006. "Human Capital Composition, R&D and the Increasing Role of Services," The B.E. Journal of Macroeconomics, De Gruyter, vol. 6(1), pages 1-25, June.
  3. Catherine L. Mann, 2003. "Globalization of IT Services and White Collar Jobs: The Next Wave of Productivity Growth," Policy Briefs PB03-11, Peterson Institute for International Economics.
  4. Mattoo, Aaditya & Mishra, Deepak, 2008. "Foreign Professionals And Domestic Regulation," Policy Research Working Paper Series 4782, The World Bank.

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