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Education, Productivity and Economic Growth: A Selective Review of the Evidence

Listed author(s):
  • Serge Coulombe

    ()

  • Jean-Francois Tremblay

    ()

We review a selection of the theoretical and empirical literature on human capital and growth that appear to provide the most relevant insights for policy development in the Canadian context. We first focus on the extension of the neo-classical growth model with the inclusion of human capital in an open economy framework, and discuss its empirical applications to the Canadian economy. We also examine other issues such as the returns to education and the distance from the technological frontier, the microeconomic versus macroeconomic return to education, and the quantity versus quality of education. Although the levels of investment in education and the overall quality of the educational system in Canada are fairly high, we argue that the returns of additional investments in post-secondary education could still be substantial since Canada is relatively close to the technology frontier.

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Article provided by Centre for the Study of Living Standards in its journal International Productivity Monitor.

Volume (Year): 18 (2009)
Issue (Month): (Spring)
Pages: 3-24

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Handle: RePEc:sls:ipmsls:v:18:y:2009:1
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  15. Jérôme Vandenbussche & Philippe Aghion & Costas Meghir, 2004. "Growth, distance to frontier and composition of human capital," IFS Working Papers W04/31, Institute for Fiscal Studies.
  16. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
  17. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  18. Coulombe Serge & Tremblay Jean-François, 2006. "Literacy and Growth," The B.E. Journal of Macroeconomics, De Gruyter, vol. 6(2), pages 1-34, August.
  19. Edward L. Glaeser & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2004. "Do Institutions Cause Growth?," Journal of Economic Growth, Springer, vol. 9(3), pages 271-303, 09.
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  24. Serge Coulombe & Jean-François Tremblay, 2007. "Skills, Education, And Canadian Provincial Disparity," Journal of Regional Science, Wiley Blackwell, vol. 47(5), pages 965-991.
  25. Jérôme Vandenbussche & Philippe Aghion & Costas Meghir, 2006. "Growth, distance to frontier and composition of human capital," Journal of Economic Growth, Springer, vol. 11(2), pages 97-127, June.
  26. Benhabib, Jess & Spiegel, Mark M., 1994. "The role of human capital in economic development evidence from aggregate cross-country data," Journal of Monetary Economics, Elsevier, vol. 34(2), pages 143-173, October.
  27. Hanushek, Eric A. & Wößmann, Ludger, 2008. "The role of cognitive skills in economic development," Munich Reprints in Economics 20454, University of Munich, Department of Economics.
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  29. Gemmell, Norman, 1996. "Evaluating the Impacts of Human Capital Stocks and Accumulation on Economic Growth: Some New Evidence," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 58(1), pages 9-28, February.
  30. William F. Blankenau & Nicole B. Simpson & Marc Tomljanovich, 2007. "Public Education Expenditures, Taxation, and Growth: Linking Data to Theory," American Economic Review, American Economic Association, vol. 97(2), pages 393-397, May.
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  33. Coulombe, S. & Tremblay, J.-F., 1999. "Human Capital and Regional Convergence in Canada," Working Papers 9906e, University of Ottawa, Department of Economics.
  34. Serge Coulombe & Jean-Francois Tremblay, 2009. "Migration and Skills Disparities across the Canadian Provinces," Regional Studies, Taylor & Francis Journals, vol. 43(1), pages 5-18.
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