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Growth and Human Capital: Good Data, Good Results

Listed author(s):
  • Daniel Cohen
  • Marcelo Soto

This paper presents a new data set on human capital. It is based upon data released at the OECD for a subgroup of 38 member and non-member countries, and an effort performed at the Development Centre to expand this data set to other developing countries. The key to our methodology is to minimise the extrapolations and keep the data as close as possible to those directly available from national censuses (in the spirit of the work of De la Fuente and Doménech for OECD countries). We then use this new data set to test a neo-classical model in which human capital follows the Log-Linear formulation which is favoured by Mincerian approaches. We find both in levels and in first difference that the model performs extremely well. No externalities seem to manifest themselves, either on physical or on human capital accumulation. Total factor productivity (output net of the contribution of human and physical capital), however, do appear to be smaller, by about 45 per cent in average, in the ... Ce Document technique présente un nouvel ensemble de données sur le capital humain, constitué des données rassemblées par l’OCDE sur un groupe de 38 pays Membres et non membres et élargi par le Centre de Développement à d’autres pays en développement. Notre méthodologie s’est attachée à limiter les extrapolations au maximum et à conserver des chiffres aussi proches que possible de ceux obtenus directement au moyen des recensements nationaux (dans l’esprit des travaux menés pour les pays de l’OCDE par De la Fuente et de Doménech). Nous avons ensuite utilisé ces nouvelles données pour tester un modèle néoclassique dans lequel le capital humain suit la formulation Log-linéaire préconisée dans les approches “à la Mincer”. Tant les résultats par niveaux que la différence de premier ordre montrent que le modèle fonctionne extrêmement bien. Aucun effet externe n’a été observé, tant pour l’accumulation du capital physique que du capital humain. La productivité totale des facteurs ...

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File URL: http://dx.doi.org/10.1787/725160520154
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Paper provided by OECD Publishing in its series OECD Development Centre Working Papers with number 179.

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Date of creation: 01 Sep 2001
Handle: RePEc:oec:devaaa:179-en
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  1. Nehru, Vikram & Swanson, Eric & Dubey, Ashutosh, 1995. "A new database on human capital stock in developing and industrial countries: Sources, methodology, and results," Journal of Development Economics, Elsevier, vol. 46(2), pages 379-401, April.
  2. Robert J. Barro, 2013. "Inflation and Economic Growth," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
  3. Mikael Lindahl & Alan B. Krueger, 2001. "Education for Growth: Why and for Whom?," Journal of Economic Literature, American Economic Association, vol. 39(4), pages 1101-1136, December.
  4. Kevin D. Hoover & Stephen J. Perez, 2004. "Truth and Robustness in Cross-country Growth Regressions," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(5), pages 765-798, December.
  5. Jacob A. Mincer, 1974. "Introduction to "Schooling, Experience, and Earnings"," NBER Chapters,in: Schooling, Experience, and Earnings, pages 1-4 National Bureau of Economic Research, Inc.
  6. Barro, Robert J. & Lee, Jong-Wha, 1993. "International comparisons of educational attainment," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 363-394, December.
  7. Barro, Robert J & Lee, Jong-Wha, 2001. "International Data on Educational Attainment: Updates and Implications," Oxford Economic Papers, Oxford University Press, vol. 53(3), pages 541-563, July.
  8. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
  9. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
  10. David F. Hendry & Hans-Martin Krolzig, 2004. "We Ran One Regression," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(5), pages 799-810, December.
  11. David F. Hendry & Hans-Martin Krolzig, 2004. "We Ran One Regression," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(5), pages 799-810, December.
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