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El efecto del capital humano sobre el crecimiento: ¿ Importa el periodo muestral?

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  • Simón Sosvilla-Rivero
  • Javier Alonso Meseguer

Abstract

This paper presents the results of an empirical estimation of a production function that includes human capital for the Spanish economy using annual data covering the 1910-1995 period. Using recent cointegration techniques that allow the existence of long-run equilibrium relationships when it is not known with certainty whether the regressors are purely I(o), purely I(1) or mutually cointegrated, we obtain a positive, but not significant coefficient for human capital. Nevertheless, a test for structural test in the long-run relationship does find evidence of structural change in 1964. Therefore, we test for cointegration also for the 1910-1964 and 1965-1995 sub-periods. For the latter, the results suggest the existence of a long-run relationship among output, physical capital, human capital and labour, being all the estimated coefficients positive and statistically significant.

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  • Simón Sosvilla-Rivero & Javier Alonso Meseguer, "undated". "El efecto del capital humano sobre el crecimiento: ¿ Importa el periodo muestral?," Working Papers 2003-22, FEDEA.
    • Handle: RePEc:fda:fdaddt:2003-22
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    Cited by:

    1. Simón Sosvilla Rivero & Oscar Bajo Rubio & Carmen Díaz Roldán, "undated". "Sobre la efectividad de la política regional comunitaria: El caso de Castilla-la Mancha," Studies on the Spanish Economy 178, FEDEA.
    2. Alvarado, Raquel & Ortiz, Cristian, 2018. "El rol del capital humano en el nivel de ingreso de las provincias de Ecuador," Revista Económica, Centro de Investigaciones Sociales y Económicas, Universidad Nacional de Loja, vol. 4(1), pages 123-132, Enero.
    3. José A. Herce, "undated". "Could this ever happen in Spain? Economic and policy aspects of a SARS-like episode," Working Papers 2004-09, FEDEA.

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