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Catch Me If You Learn: Development-Specific Education And Economic Growth

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  • Cerina, Fabio
  • Manca, Fabio

Abstract

This paper presents a theoretical and empirical investigation of the relationship between human capital composition and economic growth. In the theoretical analysis, we allow for nonconstant returns to scale in technological activities. Differently from previous literature, our results show that, under broad and plausible model parameterizations, the marginal growth effect of skilled workers is increasing with the distance to the frontier for sufficiently poor countries while it is decreasing (in agreement with the existing literature) only for countries close to the technological frontier. Our empirical analysis provides robust evidence for this theoretical prediction by using a 10-year panel of 85 countries for the years in between 1960 and 2000, as well as by using the System Generalized Methods of Moments (GMM) technique to address the problem of endogeneity. Results are robust to different proxies of human capital and different specifications.

Suggested Citation

  • Cerina, Fabio & Manca, Fabio, 2018. "Catch Me If You Learn: Development-Specific Education And Economic Growth," Macroeconomic Dynamics, Cambridge University Press, vol. 22(6), pages 1652-1694, September.
    • Handle: RePEc:cup:macdyn:v:22:y:2018:i:06:p:1652-1694_00
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    Cited by:

    1. Tanaka Masashi, 2020. "Changing demand for general skills, technological uncertainty, and economic growth," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(1), pages 1-25, January.
    2. Sara Barcenilla-Visús & Carmen López-Pueyo, 2018. "Inside Europe: human capital and economic growth revisited," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 45(4), pages 821-847, November.
    3. repec:prg:jnlpep:v:preprint:id:689:p:1-16 is not listed on IDEAS
    4. Sara Barcenilla & Gregorio Gimenez & Carmen López-Pueyo, 2019. "Differences in Total Factor Productivity Growth in the European Union: The role of Human Capital by Income Level," Prague Economic Papers, Prague University of Economics and Business, vol. 2019(1), pages 70-85.

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