【摘要】Using cross-country estimates of physical and human capital stocks, we run the growth accounting regressions implied by a Cobb-Douglas aggregate production function. Our results indicate that human capital enters insignificantly in explaining per capita growth rates. We next specify an alternative model in which the growth rate of total factor productivity depends on a nation's human capital stock level. Tests of this specification do indicate a positive role for human capital.

【关键词】growth; human capital

【文献来源】Benhabib J, Spiegel M M.Journal of Monetary Economics, 1994, 34(2):143-173.