Human Capital and Macro-Economic Development : A Review of the Evidence
This paper reviews the evidence on the importance of human capital for macro-economic development. Through the lens of a simple aggregate production function, human capital might increase output per capita by directly entering in the production pro...
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| Format: | Working Paper |
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/406251542645775821/Human-Capital-and-Macro-Economic-Development-A-Review-of-the-Evidence http://hdl.handle.net/10986/30877 |
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okr-10986-308772022-02-04T00:22:39Z Human Capital and Macro-Economic Development : A Review of the Evidence Rossi, Federico HUMAN CAPITAL EDUCATIONAL ATTAINMENT PRODUCTION FUNCTION This paper reviews the evidence on the importance of human capital for macro-economic development. Through the lens of a simple aggregate production function, human capital might increase output per capita by directly entering in the production process, incentivising the accumulation of complementary inputs and facilitating the adoption of new technologies. The paper discusses the advantages and limitations of three methodological approaches that have been used to evaluate the importance of these channels: cross-country regressions, development accounting and quantitative models. The key findings in the literature are reviewed, and some of them are replicated using updated data. The bulk of the evidence suggests that human capital is an important determinant of cross-country income gaps, especially when its measurement is broadened to go beyond simple proxies of educational attainment. The paper concludes by highlighting promising avenues for future work. 2018-11-26T19:47:33Z 2018-11-26T19:47:33Z 2018-11 Working Paper http://documents.worldbank.org/curated/en/406251542645775821/Human-Capital-and-Macro-Economic-Development-A-Review-of-the-Evidence http://hdl.handle.net/10986/30877 English Policy Research Working Paper;No. 8650 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
HUMAN CAPITAL EDUCATIONAL ATTAINMENT PRODUCTION FUNCTION |
| spellingShingle |
HUMAN CAPITAL EDUCATIONAL ATTAINMENT PRODUCTION FUNCTION Rossi, Federico Human Capital and Macro-Economic Development : A Review of the Evidence |
| relation |
Policy Research Working Paper;No. 8650 |
| description |
This paper reviews the evidence on the
importance of human capital for macro-economic development.
Through the lens of a simple aggregate production function,
human capital might increase output per capita by directly
entering in the production process, incentivising the
accumulation of complementary inputs and facilitating the
adoption of new technologies. The paper discusses the
advantages and limitations of three methodological
approaches that have been used to evaluate the importance of
these channels: cross-country regressions, development
accounting and quantitative models. The key findings in the
literature are reviewed, and some of them are replicated
using updated data. The bulk of the evidence suggests that
human capital is an important determinant of cross-country
income gaps, especially when its measurement is broadened to
go beyond simple proxies of educational attainment. The
paper concludes by highlighting promising avenues for future work. |
| format |
Working Paper |
| author |
Rossi, Federico |
| author_facet |
Rossi, Federico |
| author_sort |
Rossi, Federico |
| title |
Human Capital and Macro-Economic Development : A Review of the Evidence |
| title_short |
Human Capital and Macro-Economic Development : A Review of the Evidence |
| title_full |
Human Capital and Macro-Economic Development : A Review of the Evidence |
| title_fullStr |
Human Capital and Macro-Economic Development : A Review of the Evidence |
| title_full_unstemmed |
Human Capital and Macro-Economic Development : A Review of the Evidence |
| title_sort |
human capital and macro-economic development : a review of the evidence |
| publisher |
World Bank, Washington, DC |
| publishDate |
2018 |
| url |
http://documents.worldbank.org/curated/en/406251542645775821/Human-Capital-and-Macro-Economic-Development-A-Review-of-the-Evidence http://hdl.handle.net/10986/30877 |
| _version_ |
1764473138625642496 |