Human capital as a factor of growth and employment at the regional level. The case of Spain
We use statistical techniques to quantify the effects of school attainment on individual wages, participation rates and employment probabilities in Spain, and to measure the contribution of education to labour productivity at the regional level. These estimates are then combined with data on private and public expenditure on education and with information on taxes and social benefits to construct measures of the private and social returns to schooling, to explore the effects of public policies on private incentives to invest in human capital, and to analyse the long-term effects of schooling on public finances. The results are used, together with estimates of the returns to alternative assets, to draw some tentative conclusions regarding the adequacy of the aggregate investment patterns observed in the regions of Spain, and to identify changes in the design of national and EU cohesion and growth policies that may help enhance their effectiveness.
|Date of creation:||15 Nov 2003|
|Date of revision:|
|Contact details of provider:|| Postal: 08193, Bellaterra, Barcelona|
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Web page: http://pareto.uab.cat
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- Mario Padula & Luigi Pistaferri, 2001. "Education, Employment and Wage Risk," CSEF Working Papers 67, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Sveinbjörn Blöndal & Stefano Scarpetta, 1999. "The Retirement Decision in OECD Countries," OECD Economics Department Working Papers 202, OECD Publishing.
- de la Fuente, Angel & Doménech, Rafael, 2002. "Educational Attainment in the OECD, 1960-95," CEPR Discussion Papers 3390, C.E.P.R. Discussion Papers.
- Heckman, James J, 1979.
"Sample Selection Bias as a Specification Error,"
Econometric Society, vol. 47(1), pages 153-61, January.
- Trostel, P. & Walker, I., 2000.
"Education and Work,"
The Warwick Economics Research Paper Series (TWERPS)
554, University of Warwick, Department of Economics.
- Alan B. Krueger & Mikael Lindahl, 2000.
"Education for Growth: Why and For Whom?,"
NBER Working Papers
7591, National Bureau of Economic Research, Inc.
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