THE ROLE OF HUMAN-CAPITAL IN ECONOMIC-DEVELOPMENT EVIDENCE FROM AGGREGAT CROSS-COUNTRY DATA

• 成果类型: Article
• 署名作者: BENHABIB, J; SPIEGEL, MM
• 署名单位: New York University
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/0304-3932(94)90047-7
• 发表日期: 1994
• 页码: 143-173
• 关键词: growth; human capital

摘要

Using cross-country estimates of physical and human capital stocks, we run the growth accounting regressions implied by a Cobb-Douglas aggregate production function. Our results indicate that human capital enters insignificantly in explaining per capita growth rates. We next specify an alternative model in which the growth rate of total factor productivity depends on a nation's human capital stock level. Tests of this specification do indicate a positive role for human capital.