Human capital and productivity

This paper surveys the empirical literature on human capital and productivity and summarizes the results of my own work on the subject. On balance, the available evidence suggests that investment in education has a positive, significant and sizable effect on productivity growth. According to my estimates, moreover, the social returns to investment in human capital are higher than those on physical capital in most EU countries and in many regions of Spain

JEL Classification: O40, I20, O30, C19.-- Trabajo presentado a la conferencia "Productivity and Competetiveness” for the Nordic Economic Policy Review celebrada en Finlandia en 2011.-- Publicado como capítulo del libro: Nordic Economic Policy Review(2). Productivity and competitiveness: 103-131 (2011).

European Commission, the OECD, the research department of BBVA and the Spanish Ministry of Science and Innovation through grant no. ECO2008-04837/ECON.

Peer reviewed

Country

Spain

Keywords

Productivitat, human capital, Productivity, growth, measurement error, human capital, productivity, growth, measurement error, Growth, Measurement error, Desenvolupament econòmic, Recursos humans, jel:O40, jel:C19, Human capital, human capital,productivity,growth,measurement error, Productivity, jel: jel:I20, jel: jel:O30, jel: jel:O40, jel: jel:C19

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