2003
DOI: 10.1111/1475-4932.00090
|View full text |Cite
|
Sign up to set email alerts
|

Human Capital and Economic Growth: Cross‐Section Evidence for OECD Countries

Abstract: This paper explores the applicability of the Nelson-Phelps approach to the modelling of human capital in economic growth for the sample of OECD countries. A case is made for confining the approach to the technology diffusion component and for combining it with the Lucas approach. For such a hybrid model, both the favoured interpretation of the Nelson-Phelps approach, as well as the Lucas approach, are supported by the evidence. The sensitivity of the findings is assessed with regard to the use of alternative h… Show more

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...
1
1
1
1

Citation Types

0
44
0
3

Year Published

2004
2004
2023
2023

Publication Types

Select...
4
4
1

Relationship

0
9

Authors

Journals

citations
Cited by 65 publications
(50 citation statements)
references
References 32 publications
0
44
0
3
Order By: Relevance
“…It has been suggested in the literature Spiegel, 2002 andEngelbrecht, 2003) that the level of schooling in 1960 may not adequately reflect the amount of human capital available for innovation over the period 1960-2000, since a significant number of countries experienced rapid schooling growth in the 1960s and 1970s. We therefore estimate the model in equation (9) In Column (1) of Table 3 we present estimates of the standard Nelson-Phelps model using the average years of schooling in 1960 as a measure of the human capital stock.…”
Section: Standard Modelsmentioning
confidence: 99%
“…It has been suggested in the literature Spiegel, 2002 andEngelbrecht, 2003) that the level of schooling in 1960 may not adequately reflect the amount of human capital available for innovation over the period 1960-2000, since a significant number of countries experienced rapid schooling growth in the 1960s and 1970s. We therefore estimate the model in equation (9) In Column (1) of Table 3 we present estimates of the standard Nelson-Phelps model using the average years of schooling in 1960 as a measure of the human capital stock.…”
Section: Standard Modelsmentioning
confidence: 99%
“…Nelson and Phelps (1966) argue that the stock of human capital affects output growth (or per capita output growth) because it affects the adoption and the absorption of new technologies so one can have a product term. Engelbrecht (2002Engelbrecht ( , 2003 tested this hypothesis for many countries and found some evidence for it.…”
mentioning
confidence: 97%
“…This is argued by a number of researchers, in particular: Friedman (1955); Akerlof and Kranton (2002), Chapman and Greenway (2006), Stromquist (2002), Barro (1991), Englebrecht (2003), Lang (1994), Ryan (2001), Kruger, and Lindahj (2001) and others. It should be noted that the education policy developed and exercised by countries have different implications in developed and developing countries.…”
Section: Literature Reviewmentioning
confidence: 97%