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This paper uses the pooled mean group (PMG) estimator and a dataset restricted to OECD countries to examine the relationship between different levels of education, i.e. between education composition and growth. The PMG estimator allows a greater degree of parameter heterogeneity than the usual estimator procedures used in empirical growth studies by imposing common long run relationships across countries while allowing for heterogeneity in the short run responses and intercepts. Results point to a significant longterm relationship not only between higher education and growth but also between lower schooling levels and growth. This indicates that public spending on education in OECD countries should be spread across the different levels of education in a balanced way
Purpose This study aims to analyse the relationship between health human capital and economic growth for a maximum sample of 92 countries over the period 1980-2010 taking into account countries’ heterogeneity by assessing how health variables affect different countries according to their position on the conditional growth distribution. Design/methodology/approach The paper estimates a growth regression applying the methodology proposed by Canay (2011) for regression by quantiles (Koenker, 1978, 2004, 2012a, 2012b) in a panel framework. Quantile regression analysis allows us to identify the growth determinants that present a non-linear relationship with growth and determine the policy implications specifically for underperforming versus over achieving countries in terms of output growth. Findings The authors’ findings indicate that better health is positively and robustly related to growth at all quantiles, but the quantitative importance of the respective coefficients differs across quantiles, in some cases, with the sign of the relationship greater for countries that recorded lower growth rates. These results apply to both positive (life expectancy) and negative (infant mortality rate, undernourishment) health status indicators. Practical implications Given the predominantly public nature of health funding, cuts in health expenditure should be carefully balanced even in times of public finances sustainability problems, particularly when growth slowdowns, as a decrease in the stock of health human capital could be particularly harmful for growth in under achievers. Additionally, the most effective interventions seem to be those affecting early childhood development that should receive from policymakers the necessary attention and resources. Originality/value This study contributes to the existing literature by answering the question of whether the growth effects of health human capital can differ in sign and/or magnitude depending on a country’s growth performance. The findings may help policymakers to design the most adequate growth promoting policies according to the behaviour of output growth.
We investigate the links between agriculture and non-agricultural sectors in Portugal by assessing the existence of long-run relationships and causality among the three main sectors of activity in terms of value added and labour productivity using a VAR model for the period 1970-2006. Agricultural value added is found to be both weakly and strongly exogenous so it exerted no influence in the other sectors expansion nor was it influenced by their growth. The results with labour productivity show that productivity gains in services and industry feedback into productivity growth in agriculture, although the link is weaker in the industry case. Portuguese decision makers believe that restoring agricultural production plays an important role in overcoming the country's current difficulties. However, they need to pay more attention to the potential synergies between agricultural and non-agricultural sectors, and provide agriculture with the necessary technological and organizational capabilities to benefit from industry and services expansion. Our results indicate that this does not seem to have happened in the past, a situation that should be improved in order to restore agricultural production and promote overall growth.
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