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Endogenous Growth, the Solow Model and Human Capital

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  • Gemmell, Norman

Abstract

Both endogenous growth theory and the (augmented) Solow model propose a role for human capital in the growth process though each is based on different conceptual arguments. Since both approaches can justify the inclusion of human capital levels and growth rates in an output growth regression the two theories cannot readily be distinguished empirically. This paper argues that the variable most commonly used in empirical studies to proxy human capital (levels or growth) - school enrolment rates (SERs) - may capture both stock and accumulation effects, but changes in SERs can provide useful additional dynamic information on the contribution of human capital to growth. Empirical evidence from samples of developed and less developed countries during 1960-85 suggests important growth effects associated both with 'initial' levels of, and changes in, SERs. The nature of these effects appears to differ between the two country groups. Copyright 1995 by Kluwer Academic Publishers

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  • Gemmell, Norman, 1995. "Endogenous Growth, the Solow Model and Human Capital," Economic Change and Restructuring, Springer, vol. 28(2-3), pages 169-183.
    • Handle: RePEc:kap:ecopln:v:28:y:1995:i:2-3:p:169-83
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    Cited by:

    1. Voxi Heinrich S Amavilah & Richard T. Newcomb, 2004. "Economic Growth and the Financial Economics of Capital Accumulation under Shifting Technological Change," GE, Growth, Math methods 0404001, University Library of Munich, Germany.
    2. Jim Davies, "undated". "Empirical Evidence on Human Capital Externalities," Working Papers-Department of Finance Canada 2003-11, Department of Finance Canada.
    3. Jean-Louis ARCAND & Béatrice D'HOMBRES, 2002. "Explaining the Negative Coefficient Associated with Human Capital in Augmented Solow Growth Regressions," Working Papers 200227, CERDI.
    4. Rajabrata Banerjee & John K. Wilson, 2016. "Roles of Education in Productivity Growth in Australia, 1860–1939," The Economic Record, The Economic Society of Australia, vol. 92(296), pages 47-66, March.
    5. Elena Feltrinelli & Roberto Gabriele & Sandro Trento, 2017. "The Impact of Middle Manager Training on Productivity: A Test on Italian Companies," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 56(2), pages 293-318, April.
    6. Zhanna Chernousova & Viktoriia Melnychuk, 2023. "Analytics of the human capital of industrial enterprises in conditions of digitalization of economics," Technology audit and production reserves, PC TECHNOLOGY CENTER, vol. 4(4(72)), pages 33-39, July.
    7. Stephen Knowles, 1997. "Which level of schooling has the greatest economic impact on output?," Applied Economics Letters, Taylor & Francis Journals, vol. 4(3), pages 177-180.
    8. Voxi Heinrich Amavilah & Antonio Rodriguez Andres, 2022. "Knowledge Economy and the Economic Performance of African Countries: A Seemingly Unrelated and Recursive Approach," Working Papers 57, The German University in Cairo, Faculty of Management Technology.
    9. Amavilah, Voxi Heinrich, 2014. "Human Knowledge and a Commonsensical Measure of Human Capital: A Proposal," MPRA Paper 57670, University Library of Munich, Germany.
    10. Knowles, Stephen, 2001. "Are the Penn World Tables data on government consumption and investment being misused?," Economics Letters, Elsevier, vol. 71(2), pages 293-298, May.
    11. Amavilah, Voxi Heinrich, 2014. "Knowledge = Technology + Human Capital and the Lucas and Romer Production Functions," MPRA Paper 58847, University Library of Munich, Germany.

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