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Human Capital And Growth: New Evidences From African Data

Author

Listed:
  • Dorothée Boccanfuso

    () (GREDI, Faculte d'administration, Université de Sherbrooke)

  • Luc Savard

    () (GREDI, Faculte d'administration, Université de Sherbrooke)

  • Bernice E. Savy

    () (GREDI, Faculte d'administration, Université de Sherbrooke)

Abstract

Economic theory long acknowledged a positive relation between human capital and economic growth (Smith, 1776; Becker, 1964), which was nevertheless called into question in the late 1990s (Caselli et al. 1996; Pritchett, 2001). The two primary criticisms evoked were the failure to consider diminishing returns to education and qualitative aspects of the stock of human capital. This work aims to redress inadequacies in the literature related to the usual proxy of human capital by advancing a composite indicator of human capital (PCA). This indicator allows for an integration of the qualitative aspects in question and uses the indicator of the stock of human capital (Mincer, 1974) to take diminishing returns into consideration. Adopting the methodology developed by Islam (1995) allows for the impact of human capital to become positive once again in the process of economic growth. The data also reveal a conditional convergence process for the 22 African countries considered over the period 1970 to 2000.

Suggested Citation

  • Dorothée Boccanfuso & Luc Savard & Bernice E. Savy, 2009. "Human Capital And Growth: New Evidences From African Data," Cahiers de recherche 09-24, Departement d'Economique de l'École de gestion à l'Université de Sherbrooke.
  • Handle: RePEc:shr:wpaper:09-24
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    File URL: http://gredi.recherche.usherbrooke.ca/wpapers/GREDI-0924.pdf
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    Cited by:

    1. Gangadhar Dahal, 2016. "The Triangular Causality among Education, Health and Economic Growth: A Time Series Analysis of Nepal," Proceedings of International Academic Conferences 3606364, International Institute of Social and Economic Sciences.
    2. Hüseyin Sen & Ayse Kaya & Baris Alpaslan, 2015. "Education, Health, and Economic Growth Nexus: A Bootstrap Panel Granger Causality Analysis for Developing Countries," The School of Economics Discussion Paper Series 1502, Economics, The University of Manchester.
    3. Arshad, Shahzad & Munir, Kashif, 2015. "Factor Accumulation and Economic Growth in Pakistan: Incorporating Human Capital," MPRA Paper 67012, University Library of Munich, Germany.
    4. repec:bla:rdevec:v:21:y:2017:i:3:p:909-934 is not listed on IDEAS
    5. repec:krk:eberjl:v:3:y:2015:i:1:p:75-85 is not listed on IDEAS

    More about this item

    Keywords

    Economic growth; human capital; convergence; Africa;

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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