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Human capital and productivity

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  • Angel De la Fuente

Abstract

This paper surveys the empirical literature on human capital and productivity and summarizes the results of my own work on the subject. On balance, the available evidence suggests that investment in education has a positive, significant and sizable effect on productivity growth.According to my estimates, moreover, the social returns to investment in human capital are higher than those on physical capital in most EU countries and in many regions of Spain.

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  • Angel De la Fuente, 2011. "Human capital and productivity," Working Papers 1103, BBVA Bank, Economic Research Department.
    • Handle: RePEc:bbv:wpaper:1103
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    Cited by:

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    2. Beneito, Pilar & Rochina-Barrachina, María Engracia & Sanchis, Amparo, 2014. "Learning through experience in Research & Development: An empirical analysis with Spanish firms," Technological Forecasting and Social Change, Elsevier, vol. 88(C), pages 290-305.
    3. Lenkei, Balint & Mustafa, Ghulam & Vecchi, Michela, 2018. "Growth in emerging economies: Is there a role for education?," Economic Modelling, Elsevier, vol. 73(C), pages 240-253.
    4. Ooft, Gavin & Eckhorst, Karel, 2013. "Human Capital Development and Economic Growth in Suriname," EconStor Preprints 215530, ZBW - Leibniz Information Centre for Economics.
    5. Andre Jungmittag & Paul J.J. Welfens, 2016. "Beyond EU-US Trade Dynamics: TTIP Effects Related to Foreign Direct Investment and Innovation," EIIW Discussion paper disbei212, Universitätsbibliothek Wuppertal, University Library.
    6. Angel De la Fuente, 2011. "Human capital and productivity," Working Papers 1103, BBVA Bank, Economic Research Department.
    7. Antonin Bergeaud & Gilbert Cette & Rémy Lecat, 2018. "The role of production factor quality and technology diffusion in twentieth-century productivity growth," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 12(1), pages 61-97, January.
    8. Koye Gerry Bokana & Gbenga Wilfred Akinola, 2017. "Productivity effects of higher education human capital in selected countries of Sub-Saharan Africa," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 35(1), pages 173-198.
    9. Aparicio, Juan & Crespo-Cebada, Eva & Pedraja-Chaparro, Francisco & Santín, Daniel, 2017. "Comparing school ownership performance using a pseudo-panel database: A Malmquist-type index approach," European Journal of Operational Research, Elsevier, vol. 256(2), pages 533-542.
    10. John Bradley & Gerhard Untiedt, 2012. "Assessing the impact of EU Cohesion Policy: What can economic models tell us?," HERMIN Economic Papers 2-2012, HERMIN.
    11. Mikaela Backman, 2014. "Human capital in firms and regions: Impact on firm productivity," Papers in Regional Science, Wiley Blackwell, vol. 93(3), pages 557-575, August.
    12. Mason, Geoff & O'Leary, Brigid & Vecchi, Michela, 2012. "Certified and uncertified skills and productivity growth performance: Cross-country evidence at industry level," Labour Economics, Elsevier, vol. 19(3), pages 351-360.
    13. Anneleen Vandeplas & Anna Thum-Thysen, 2019. "Skills Mismatch and Productivity in the EU," European Economy - Discussion Papers 100, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    14. Huanjia Ma & Raquel Ortega-Argilés & Matthew Lyons, 2024. "UK Levelling Up R&D mission effects: A multi-region input-output approach," MIOIR Working Paper Series 2024-03, The Manchester Institute of Innovation Research (MIoIR), The University of Manchester.
    15. 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.
    16. Andre Jungmittag & Paul J. J. Welfens, 2020. "EU-US trade post-trump perspectives: TTIP aspects related to foreign direct investment and innovation," International Economics and Economic Policy, Springer, vol. 17(1), pages 259-294, February.
    17. Simachev, Yu. & Kuzyk, M. & Fedyunina, A. & Yurevich, M., 2020. "Labor productivity in Russian companies: How to foster sustainable growth," Journal of the New Economic Association, New Economic Association, vol. 48(4), pages 205-217.
    18. Josue Mbonigaba & Akinola Gbenga Wilfred, 2019. "Productivity effects of human capital: an empirical investigation of health and higher education in South Africa," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 37(1), pages 277-301.
    19. Daniel Santín & Gabriela Sicilia, 2018. "Using DEA for measuring teachers’ performance and the impact on students’ outcomes: evidence for Spain," Journal of Productivity Analysis, Springer, vol. 49(1), pages 1-15, February.
    20. Crass, Dirk & Peters, Bettina, 2014. "Intangible assets and firm-level productivity," ZEW Discussion Papers 14-120, ZEW - Leibniz Centre for European Economic Research.

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    More about this item

    Keywords

    human capital; productivity; growth; measurement error;
    All these keywords.

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • I20 - Health, Education, and Welfare - - Education - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other

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