Human Capital in Growth Regressions: How Much Difference Does Data Quality Make?

Fuente, Angel de La; Doménech, Rafael

doi:10.1162/154247606776014686

Cited by 192 publications

(226 citation statements)

References 7 publications

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“…In addition, we find that the augmented neoclassical model -the Mankiw, Romer and Weil (1992) version -is well suited to describe European growth. In establishing this result, we make use of the new data on human capital constructed by De la Fuente and Dome´nech (2000). 5.…”

Section: Theoretical Considerationsmentioning

confidence: 99%

Fertile Soil for Structural Funds?A Panel Data Analysis of the Conditional Effectiveness of European Cohesion Policy

Ederveen

Groot²,

Nahuis

2006

Kyklos

258

128

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Structural Funds are the most intensively used policy instrument by the European Union to promote economic growth in its member states and to speed up the process of convergence. This paper empirically explores the effectiveness of European Structural Funds by means of a panel data analysis for 13 countries in the European Union. We show that - on average - Structural Funds are ineffective. For countries with a 'proper' institutional framework, however, Structural Funds are effective. The latter result is obtained for a wide range of conditioning variables, such as openness, institutional quality, corruption and indicators for good governance. It is robust to a wide range of robustness tests. Copyright 2006 Blackwell Publishing Ltd..

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Section: Theoretical Considerationsmentioning

confidence: 99%

Fertile Soil for Structural Funds?A Panel Data Analysis of the Conditional Effectiveness of European Cohesion Policy

Ederveen

Groot²,

Nahuis

2006

Kyklos

258

128

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“…This dataset combine information from de la Fuente and Doménech (2006) with the OECD Education at the Glance database.…”

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confidence: 99%

Solow or Lucas? Testing speed of convergence on a panel of OECD countries

Arnold

Bassanini

Scarpetta

2011

Research in Economics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post Foundation. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E SIZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author. We test whether the growth experience of a sample of 21 OECD countries over the past three decades is more consistent with the augmented Solow model or the Uzawa-Lucas model, by exploiting the different non-linear restrictions implied by them as regards the relationship between factor shares and speed of convergence. Using cross-country/timeseries data, we specify our growth regression without imposing cross-country homogeneity restrictions on the speed of convergence and short-run parameters. Indeed, both theoretical models imply that the speed of convergence to the steady state differs across countries due to heterogeneity in population growth, technical change or progressiveness of income taxes. Our estimated speed of convergence is too fast to be compatible with the augmented Solow model, but is consistent with the Uzawa-Lucas model with constant returns to scale. Our main findings are robust to several robustness tests. JEL Classification:O11, O15, O41

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“…Indeed, using the recent empirical study by de la Fuente and Doménech (2006), we argue that a plausible value for the intergenerational externality parameter, φ, lies between 0.27 and 0.40, i.e. nowhere in the vicinity of the knife-edge case considered by Boucekkine et al (2002) and others.…”

Section: Introductionmentioning

confidence: 86%

Human capital formation and macroeconomic performance in an ageing small open economy

Heijdra

Romp

2009

Journal of Economic Dynamics and Control

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We study the effects of stylized demographic and fiscal shocks on the macroeconomic performance of an industrialized small open economy. We construct an overlappinggenerations model which incorporates a realistic description of the mortality process. Agents engage in educational activities at the start of life and thus create human capital to be used later on in life for production purposes. Simple and intuitive expressions are derived which demonstrate the key economic and demographic mechanisms that are operating in the model. The engine of growth during the demographic transition is an intergenerational externality in the production of human capital. In a calibrated version of our model, we find that the effects of increased longevity on human capital formation are small whereas the reduction in fertility has a rather strong effect. JEL codes: E10, D91, O40, F41, J11.

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Human Capital in Growth Regressions: How Much Difference Does Data Quality Make?

Cited by 192 publications

References 7 publications

Fertile Soil for Structural Funds?A Panel Data Analysis of the Conditional Effectiveness of European Cohesion Policy

Fertile Soil for Structural Funds?A Panel Data Analysis of the Conditional Effectiveness of European Cohesion Policy

Solow or Lucas? Testing speed of convergence on a panel of OECD countries

Human capital formation and macroeconomic performance in an ageing small open economy

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