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Human Capital Externalities and Growth

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  • Carolina Arteaga Cabrales

Abstract

This paper provides evidence of positive externalities in human capital that help to explain divergences in development worldwide. We estimate the supply and demand for human capital using a five-year panel involving 60 countries, covering the period 1980-2000, and found that there exists positive externalities in human capital accumulation close to one. This translates into increasing returns to scale and increasing marginal returns in human capital.

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  • Carolina Arteaga Cabrales, 2011. "Human Capital Externalities and Growth," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 29(66), pages 12-47, December.
    • Handle: RePEc:bdr:ensayo:v:29:y:2011:i:66:p:12-47
    DOI: 10.32468/Espe.6601
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    3. Carlos Esteban Posada Posada, 2021. "Could the Colombian economy grow faster? How it would be possible?," Documentos de Trabajo de Valor Público 19683, Universidad EAFIT.

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    More about this item

    Keywords

    Economic growth; Human capital; externalities;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • Y40 - Miscellaneous Categories - - Dissertations - - - Dissertations

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