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Human Capital and Macroeconomic Development: A Review of the Evidence

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dc.contributor.authorRossi, Federico
dc.date.accessioned2022-01-11T18:27:37Z
dc.date.available2022-01-11T18:27:37Z
dc.date.issued2020-07
dc.description.abstractThe role of human capital in facilitating macroeconomic development is at the center of both academic and policy debates. Through the lens of a simple aggregate production function, human capital might increase output per capita by directly entering in the production process, incentivizing the accumulation of complementary inputs, and facilitating the adoption of new technologies. This paper discusses the advantages and limitations of three approaches that have been used to evaluate the empirical importance of these channels: cross-country regressions, development accounting, and quantitative models. The key findings in the literature are reviewed and some of them are replicated using updated data. The bulk of the evidence suggests that human capital is an important determinant of cross-country income gaps, especially when its measurement is broadened to go beyond simple proxies of educational attainment. The paper concludes by highlighting policy implications and promising avenues for future work.en
dc.identifier.citationWorld Bank Research Observer
dc.identifier.doi10.1596/36811
dc.identifier.issn1564-6971
dc.identifier.urihttps://hdl.handle.net/10986/36811
dc.publisherPublished by Oxford University Press on behalf of the World Bank
dc.relation.ispartofseriesWorld Bank Research Observer
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.subjectHUMAN CAPITAL
dc.subjectDEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectINTERGENERATIONAL INCOME DISTRIBUTION
dc.subjectLABOR PRODUCTIVITY
dc.subjectEMPLOYMENT
dc.subjectDEVELOPMENT ACCOUNTING
dc.subjectQUANTITATIVE MODEL
dc.subjectCROSS-COUNTRY REGRESSION
dc.subjectEDUCATIONAL ATTAINMENT
dc.titleHuman Capital and Macroeconomic Developmenten
dc.title.subtitleA Review of the Evidenceen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.date.disclosure2022-01-11
okr.date.doiregistration2025-05-06T11:02:36.775964Z
okr.doctypePublications & Research
okr.doctypePublications & Research::Journal Article
okr.identifier.doi10.1093/wbro/lkaa002
okr.journal.nbpages227-62
okr.language.supporteden
okr.peerreviewAcademic Peer Review
okr.topicEducation::Economics of Education
okr.topicMacroeconomics and Economic Growth::Economic Development
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Theory & Research
okr.topicSocial Protections and Labor::Labor Markets
okr.unitHuman Development Practice Group
okr.volume35(2)
relation.isJournalIssueOfPublication806e25f4-7594-4c0d-9535-2b2b380da687
relation.isJournalIssueOfPublication.latestForDiscovery806e25f4-7594-4c0d-9535-2b2b380da687
relation.isJournalOfPublication9e5fbe82-492f-4142-8378-17d50245d9de
relation.isJournalVolumeOfPublication9114dde9-ed7f-4df4-9de1-174aae48ff20
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