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Human capital and regional growth in Finland

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  • Lea Pelkonen
  • Sakari Ylonen

Abstract

Recent investigations of regional growth have paid a great attention to convergence of per-capita income. These studies have shown the human capital to be a significant factor in addition to labour force, capital and technical progress when explaining the economic growth. This paper examines the convergence, and in particular the impact of human capital on regional growth in Finland. We estimate a standard neoclassical growth model extended by a human capital accumulation. The regional growth for many sectors of the finnish economy is analysed on the basis of data consisting of 12 provinces during the period 1960-1995 and 88 subregions during the period 1988-1995. The human capital is measured by the education level of the labour force with three categories and, moreover, it is constructed a regional indicator of the educational level.

Suggested Citation

  • Lea Pelkonen & Sakari Ylonen, 1998. "Human capital and regional growth in Finland," ERSA conference papers ersa98p223, European Regional Science Association.
    • Handle: RePEc:wiw:wiwrsa:ersa98p223
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    File URL: https://www-sre.wu.ac.at/ersa/ersaconfs/ersa98/papers/223.pdf
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    References listed on IDEAS

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    6. Gregory Mankiw, 1995. "The Growth of Nations," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 275-326.
    7. Peter S. Albin, 1970. "Poverty, Education, and Unbalanced Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(1), pages 70-84.
    8. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Cited by:

    1. Karatheodoros Anastasios & Tsamadias Constantinos & Pegkas Panagiotis, 2019. "The effects of formal educations’ levels on regional economic growth in Greece over the period 1995–2012," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 39(1), pages 91-111, February.
    2. Marinko Škare & Sabina Lacmanovic, 2015. "Human capital and economic growth: a review essay," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(39), pages 735-735, May.

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