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Human Capital and Economic Growth$
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Andreas Savvides and Thanasis Stengos

Print publication date: 2008

Print ISBN-13: 9780804755405

Published to Stanford Scholarship Online: June 2013

DOI: 10.11126/stanford/9780804755405.001.0001

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Human Capital and Economic Growth: Linear Specifications

Human Capital and Economic Growth: Linear Specifications

Chapter:
(p.156) 7 Human Capital and Economic Growth: Linear Specifications
Source:
Human Capital and Economic Growth
Publisher:
Stanford University Press
DOI:10.11126/stanford/9780804755405.003.0007

This chapter provides a systematic empirical investigation of the human capital economic–growth nexus from a linear perspective. It uses the transition to the steady-state approach formalized by Mankiw, Romer, and Weil and the growth accounting methodology. The second section reviews the theoretical and parametric framework that characterizes the growth regression approach of Mankiw, Romer, and Weil (MRW). It also estimates the MRW specification with panel data and growth rates that are averaged across five-year periods. The third section estimates the growth accounting approach to human capital and growth.

Keywords:   growth accounting methodology, growth regression, MRW, linear relationship

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