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Investigating the Human Capital Development-Growth Nexus: Does the Efficiency of Universities Matter?
- Publication Year :
- 2017
-
Abstract
- In this article, we test whether economic growth depends on human capital development mainly operating through an upgrading of human capital stock in the area where the universities are located. We specify a growth model where a qualitative measure of human capital development, university efficiency, is considered in conjunction with a customary quantitative measure of human capital development, number of graduates. The model is estimated on panel data over the period 2003 to 2011. The evidence suggests that both indicators of human capital development have a positive and significant impact on gross domestic product per capita. Results also show that knowledge spillovers occur between areas through the geographical proximity to the efficient universities, suggesting that the geography of production is affected. Results hold when robustness checks are performed.
- Subjects :
- Labour economics
Human capital development
Economic capital
local economic development
05 social sciences
knowledge spillovers
0211 other engineering and technologies
General Social Sciences
021107 urban & regional planning
Capital Consumption Allowance
02 engineering and technology
Human capital
parametric technique
Physical capital
Financial capital
higher education, knowledge spillovers, local economic development, parametric technique
Capital deepening
higher education
0502 economics and business
Capital employed
Economics
Higher education
Knowledge spillovers
Local economic development
Capital intensity
050207 economics
General Environmental Science
Subjects
Details
- Language :
- English
- Database :
- OpenAIRE
- Accession number :
- edsair.doi.dedup.....07479b38d2381322ce85f664a91d136a