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Returns to scale in producing human capital from schooling

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  • Philip A. Trostel

Abstract

This study examines a crucial assumption in much of the recent work on endogenous growth, namely, constant returns to scale in producing human capital. A simple model is constructed to show that the returns to scale in human capital production can be inferred from the relationship between the wage rate and years of schooling. A large international micro dataset is used to estimate this relationship. The empirical evidence indicates that human capital production displays significant increasing returns at low levels of educational attainment, and significant decreasing returns at high levels of educational attainment. Copyright 2004, Oxford University Press.

Suggested Citation

  • Philip A. Trostel, 2004. "Returns to scale in producing human capital from schooling," Oxford Economic Papers, Oxford University Press, vol. 56(3), pages 461-484, July.
  • Handle: RePEc:oup:oxecpp:v:56:y:2004:i:3:p:461-484
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    File URL: http://hdl.handle.net/10.1093/oep/gpf054
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    Citations

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    Cited by:

    1. Creina Day, 2016. "Non-Scale Endogenous Growth with R&D and Human Capital," Scottish Journal of Political Economy, Scottish Economic Society, vol. 63(5), pages 443-467, November.
    2. Dias, Joilson & Tebaldi, Edinaldo, 2012. "Institutions, human capital, and growth: The institutional mechanism," Structural Change and Economic Dynamics, Elsevier, vol. 23(3), pages 300-312.
    3. Kevin O’Rourke & Ahmed Rahman & Alan Taylor, 2013. "Luddites, the industrial revolution, and the demographic transition," Journal of Economic Growth, Springer, vol. 18(4), pages 373-409, December.
    4. Debasis Bandyopadhyay & Xueli Tang, 2011. "Parental nurturing and adverse effects of redistribution," Journal of Economic Growth, Springer, vol. 16(1), pages 71-98, March.
    5. César Alonso-Borrego & Antonio Romero-Medina, 2016. "Wage Expectations for Higher Education Students in Spain," LABOUR, CEIS, vol. 30(1), pages 1-17, March.
    6. repec:bla:germec:v:18:y:2017:i:2:p:182-211 is not listed on IDEAS
    7. Andrea Caragliu & Peter Nijkamp, 2014. "Cognitive Capital and Islands of Innovation: The Lucas Growth Model from a Regional Perspective," Regional Studies, Taylor & Francis Journals, vol. 48(4), pages 624-645, April.
    8. Rebecca Riley & Simon Kirby, 2006. "The Returns to General versus Job-Specific Skills: the Role of Information and Communication Technology," National Institute of Economic and Social Research (NIESR) Discussion Papers 274, National Institute of Economic and Social Research.
    9. Ning, Guangjie, 2010. "Can educational expansion improve income inequality? Evidences from the CHNS 1997 and 2006 data," Economic Systems, Elsevier, vol. 34(4), pages 397-412, December.
    10. Kezia De Lucas Bondezan & Joilson Dias, 2014. "Crescimento Econômico De Longo Prazo No Brasil: Uma Abordagem Sobre O Da Acumulação De Capital E Das Instituições," Anais do XLI Encontro Nacional de Economia [Proceedings of the 41st Brazilian Economics Meeting] 096, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    11. Chen, Hsiu-Lang & Gao, Sheldon & Hu, Xiaoqing, 2012. "Closing and cloning in open-end mutual funds," Journal of Banking & Finance, Elsevier, vol. 36(4), pages 1210-1223.
    12. Koichi Fukumura, 2015. "The effects of education externality on schooling," Discussion Papers in Economics and Business 15-05, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
    13. Miriam Steurer, 2009. "Children as Family Public Goods: Some Implications for Fertility," Discussion Papers 2009-04, School of Economics, The University of New South Wales.
    14. Fukumura, Koichi, 2017. "Effects of education externalities on schooling," Economic Modelling, Elsevier, vol. 60(C), pages 39-50.
    15. Norman Maynard, 2016. "Long-Run Growth Differences and the Neoclassical Growth Model," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 62(3), pages 574-583, September.
    16. Florian Immanuel Schumacher & Joilson Dias, 2011. "The Human Capital Function: Sectoralexternalities," Anais do XXXVIII Encontro Nacional de Economia [Proceedings of the 38th Brazilian Economics Meeting] 215, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].

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