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Convergence clubs and the role of human capital in Spanish Regional Growth

  • A. Di Liberto

    ()

This paper estimates returns to schooling at Spanish regional level. We identify two different convergence clubs of rich/educated and poor/uneducated regions. Overall our results stress the importance of the relationship existing between the level of development of an economy and returns to different levels of education. In particular, the Spanish evidence suggests that, while primary schooling seems to contribute to growth in poorly developed areas, more skilled human capital has a stronger growth-enhancing effect in more developed economies. In other words, our evidence emphasizes that there is likely to be heterogeneity in rates of returns to education across economies since the effect of schooling in growth regressions is influenced by the level of development of an economy. Failing to take this heterogeneity into account in empirical analysis may produce misleading results

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Paper provided by Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia in its series Working Paper CRENoS with number 200418.

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Date of creation: 2004
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Handle: RePEc:cns:cnscwp:200418
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  1. A. Di Liberto & J. Symons, 1999. "Some Econometric Issues In Convergence Regressions," Working Paper CRENoS 199904, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  2. Zvi Griliches, 1996. "Education, Human Capital, and Growth: A Personal Perspective," NBER Working Papers 5426, National Bureau of Economic Research, Inc.
  3. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1990. "The Allocation of Talent: Implications for Growth," NBER Working Papers 3530, National Bureau of Economic Research, Inc.
  4. Plutarchos Sakellaris & Antonio Spilimbergo, 1999. "Business Cycles and Investment in Human Capital: International Evidence on Higher Education," Electronic Working Papers 99-009, University of Maryland, Department of Economics.
  5. Funkhouser, Edward, 1998. "Changes in the returns to education in Costa Rica," Journal of Development Economics, Elsevier, vol. 57(2), pages 289-317.
  6. Mulligan, Casey B & Sala-i-Martin, Xavier, 1995. "Measuring Aggregate Human Capital," CEPR Discussion Papers 1149, C.E.P.R. Discussion Papers.
  7. Sala-i-Martin, Xavier X, 1996. "The Classical Approach to Convergence Analysis," Economic Journal, Royal Economic Society, vol. 106(437), pages 1019-36, July.
  8. Lorenzo Serrano-Martínez, 1999. "Capital humano, estructura sectorial y crecimiento en las regiones españolas," Investigaciones Economicas, Fundación SEPI, vol. 23(2), pages 225-249, May.
  9. Alan Krueger & Mikael Lindahl, 2000. "Education for Growth: Why and For Whom?," Working Papers 808, Princeton University, Department of Economics, Industrial Relations Section..
  10. Donald Robertson & James Symons, 2000. "Factor residuals in SUR regressions: estimating panels allowing for cross sectional correlation," LSE Research Online Documents on Economics 20163, London School of Economics and Political Science, LSE Library.
  11. Psacharopoulos, George, 1994. "Returns to investment in education: A global update," World Development, Elsevier, vol. 22(9), pages 1325-1343, September.
  12. Benhabib, Jess & Spiegel, Mark M., 2005. "Human Capital and Technology Diffusion," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 13, pages 935-966 Elsevier.
  13. Theodore W. Schultz, 1962. "Reflections on Investment in Man," Journal of Political Economy, University of Chicago Press, vol. 70, pages 1.
  14. Angel de la Fuente & Vicente Salas Fumás, . "On the sources of convergence: A close look at the Spanish regions," Studies on the Spanish Economy 01, FEDEA.
  15. Lorenzo Serrano Martínez, 1995. "Indicadores De Capital Humano Y Productividad," Working Papers. Serie EC 1995-16, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  16. Ruth A. Judson & Ann L. Owen, 1997. "Estimating dynamic panel data models: a practical guide for macroeconomists," Finance and Economics Discussion Series 1997-3, Board of Governors of the Federal Reserve System (U.S.).
  17. Azariadis, Costas & Drazen, Allan, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, MIT Press, vol. 105(2), pages 501-26, May.
  18. Kyriacou, George A., 1991. "Level and Growth Effects of Human Capital: A Cross-Country Study of the Convergence Hypothesis," Working Papers 91-26, C.V. Starr Center for Applied Economics, New York University.
  19. 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.
  20. N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
  21. Stephen Bond & Anke Hoeffler & Jonathan Temple, 2001. "GMM Estimation of Empirical Growth Models," Economics Papers 2001-W21, Economics Group, Nuffield College, University of Oxford.
  22. Pritchett, Lant, 1996. "Where has all the education gone?," Policy Research Working Paper Series 1581, The World Bank.
  23. Arantza Gorostiaga, 1999. "¿Cómo afecta el capital público y el capital humano al crecimiento?," Investigaciones Economicas, Fundación SEPI, vol. 23(1), pages 95-114, January.
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