Evaluating the impacts of human capital stocks and accumulation on economic growth: some new evidence.
"Various hypotheses have been put forward in recent years concerning the contribution of human capital to economic growth. This paper argues that school enrolment rates--by far the most commonly used human capital measure in growth regressions attempting to test these hypotheses--conflate human capital stock and accumulation effects and lead to misinterpretations of the role of labour force growth. An alternative education-related human capital measure is constructed which is capable of distinguishing between stocks and flows. Applying this measure to samples of developed and less developed countries during the 1960-85 period suggests not only that there are important growth effects associated both with 'initial' stocks of, and subsequent growth in, human capital, but also that this new measure out-performs the simple school enrolment rates used in previous analyses."
D019049:Developed Countries; D003906:Developing Countries; D004467:Economics; D004493:Education; D004522:Educational Status; D004651:Employment; D006280:Health Workforce; D012106:Research; D012107:Research Design; D012923:Social Class; D012959:Socioeconomic Factors; D013334:Students
Developed Countries; Developing Countries; Economic Development; Economic Factors; Education; Educational Status; Human Capital; Human Resources; Labor Force; Measurement; Research Methodology; School Enrollment; Socioeconomic Factors; Socioeconomic Status