DP5354 Human Capital, the Structure of Production, and Growth
|Author(s):||Antonio Ciccone, Elias Papaioannou|
|Publication Date:||November 2005|
|Keyword(s):||growth, human Capital, structure of production|
|JEL(s):||E13, F11, O11|
|Programme Areas:||International Macroeconomics|
|Link to this Page:||cepr.org/active/publications/discussion_papers/dp.php?dpno=5354|
Do high levels of human capital foster economic growth by facilitating technology adoption? If so, countries with more human capital should have adopted more rapidly the skilled-labour augmenting technologies becoming available since the 1970's. High human capital levels should therefore have translated into fast growth in more compared to less human-capital-intensive industries in the 1980's. Theories of international specialization point to human capital accumulation as another important determinant of growth in human-capital-intensive industries. Using data for a large sample of countries, we find significant positive effects of human capital levels and human capital accumulation on output and employment growth in human-capital-intensive industries.