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Human capital, innovation capability and economic growth in Portugal, 1960-2001

Author

Listed:
  • Aurora A. C. Teixeira

    (CEMPRE)

  • Natércia Fortuna

    (CEMPRE)

Abstract

. In maintaining that the main flaw in empirical studies on economic growth derives from the fact that they employ Solow-style neoclassical growth models, rather than testing actual endogenous growth theory, we examine the human capital-innovation-growth nexus, thus testing new growth theory more directly. We test its insights against the economic evolution of an individual country, Portugal, using time series data from 1960 to 2001. Estimates based on vector autoregressive and cointegration analysis seem to confirm that human capital and indigenous innovation efforts were enormously important to the economic growth process in Portugal during the period of study. In particular, the indirect effect of human capital through innovation, emerges here as being critical, showing that a reasonably high stock of human capital is necessary to enable a country to reap the benefits of its indigenous innovation efforts.

Suggested Citation

  • Aurora A. C. Teixeira & Natércia Fortuna, 2004. "Human capital, innovation capability and economic growth in Portugal, 1960-2001," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 3(3), pages 205-225, December.
    • Handle: RePEc:spr:portec:v:3:y:2004:i:3:d:10.1007_s10258-004-0037-8
    DOI: 10.1007/s10258-004-0037-8
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    Citations

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    Cited by:

    1. Ester Gomes da Silva, 2010. "Capital services estimates in Portuguese industries, 1977–2003," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 9(1), pages 35-74, April.
    2. Andreia Cardoso & Aurora A.C. Teixeira, 2009. "Returns on R&D investment: A comprehensive survey on the magnitude and evaluation methodologies," UITT Working Papers 2009-03-wp1, INESC Porto, Unidade de Inovação e Transferência de Tecnologia(UITT).
    3. Pereira, João & St. Aubyn, Miguel, 2009. "What level of education matters most for growth?: Evidence from Portugal," Economics of Education Review, Elsevier, vol. 28(1), pages 67-73, February.
    4. Soogwan Doh & Connie McNeely, 2012. "A multi-dimensional perspective on social capital and economic development: an exploratory analysis," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 49(3), pages 821-843, December.
    5. Corrado Andini, 2008. "Portugal and the competitive disinflation: let the data speak," Economics Bulletin, AccessEcon, vol. 6(25), pages 1-11.
    6. Carlo Carraro & Enrica De Cian & Massimo Tavoni, 2012. "Human Capital, Innovation, and Climate Policy: An Integrated Assessment," Working Papers 2012.18, Fondazione Eni Enrico Mattei.
    7. Mathushan P & Kengatharan N, 2022. "Human Resource Management Practices And Firm Innovation: Mediating Role Of Human Capital," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 14(2), pages 25-36, June.
    8. Shiwen Luo & Jie Wang & David Yoon Kin Tong, 2020. "Does Power Distance Necessarily Hinder Individual Innovation? A Moderated-Mediation Model," Sustainability, MDPI, vol. 12(6), pages 1-16, March.
    9. Wen, Jun & Zhang, Sen & Chang, Chun-Ping, 2022. "Legal origins and innovation: Global evidence," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    10. Teixeira, Aurora A.C. & Fortuna, Natércia, 2010. "Human capital, R&D, trade, and long-run productivity. Testing the technological absorption hypothesis for the Portuguese economy, 1960-2001," Research Policy, Elsevier, vol. 39(3), pages 335-350, April.
    11. repec:ebl:ecbull:v:6:y:2008:i:25:p:1-11 is not listed on IDEAS
    12. Aurora A.C. Teixeira & Natércia Fortuna, 2006. "Human capital, trade and long-run productivity. Testing the technological absorption hypothesis for the Portuguese economy, 1960-2001," FEP Working Papers 226, Universidade do Porto, Faculdade de Economia do Porto.
    13. Nagwan AlQershi & Zakaria Bin Abas & Sany Sanuri Mohd Mokhtar, 2019. "THE MEDIATING EFFECT OF HUMAN CAPITAL ON THE RELATIONSHIP BETWEEN STRATEGIC INNOVATION AND THE PERFORMANCE OF MANUFACTURING SMEs IN YEMEN," Organizations and Markets in Emerging Economies, Faculty of Economics, Vilnius University, vol. 10(1).
    14. Eirini C. Drakou & Nicholas I. Symeonidis, 2023. "Towards a Holistic Approach to Economic Development: Incorporating Institutional and Schumpeterian Economics into Development Dynamics," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 132-158.
    15. Aurora Teixeira & Pedro Vieira, 2005. "Escaping from poverty through compulsory schooling," Notas Económicas, Faculty of Economics, University of Coimbra, issue 21, pages 6-15, June.
    16. Tânia Pinto & Aurora Teixeira, 2023. "Does scientific research output matter for Portugal’s economic growth?," GEE Papers 0174, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Jul 2023.

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