Human Capital and Macro-Economic Development : A Review of the Evidence

Rossi, Federico

World Bank, Washington, DC

关键词: HUMAN CAPITAL;    EDUCATIONAL ATTAINMENT;    PRODUCTION FUNCTION;   

DOI  :  10.1596/1813-9450-8650
RP-ID  :  WPS8650

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper reviews the evidence on theimportance of human capital for macro-economic development.Through the lens of a simple aggregate production function,human capital might increase output per capita by directlyentering in the production process, incentivising theaccumulation of complementary inputs and facilitating theadoption of new technologies. The paper discusses theadvantages and limitations of three methodologicalapproaches that have been used to evaluate the importance ofthese channels: cross-country regressions, developmentaccounting and quantitative models. The key findings in theliterature are reviewed, and some of them are replicatedusing updated data. The bulk of the evidence suggests thathuman capital is an important determinant of cross-countryincome gaps, especially when its measurement is broadened togo beyond simple proxies of educational attainment. Thepaper concludes by highlighting promising avenues for future work.