Os efeitos dos investimentos público e privado em capitais físico e humano sobre o produto per capita dos municípios da região sul: uma análise em painéis de dados dinâmicos [The effects of public and private investiments in human and physical capital on the per capita output of municipalities in the southern region: an analysis in dynamic data panels]

Darlan Christiano Kroth and Joilson Dias ()
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Darlan Christiano Kroth: UFFS

Nova Economia, 2012, vol. 22, issue 3, 621-649

Abstract: The objective of this paper is to measure in a dynamic way the contributions of human and physical capital to the per capita output of the Brazilian southern municipalities during 1999 - 2004. This paper innovates in two aspects regarding the reviewed literature. The first aspect is related to the variables human and physical capital. The human capital was built according to the methodology proposed by Koman and Marin (1999). The investment in physical capital was obtained from four sources: public investment made by the governments at municipal level and private ones made through loans from the banking system. The second aspect regards the econometric technique. The paper uses the GMM (Generalized Method of Moments) proposed by Blundell and Bond (1998a). The main result is that the human capital showed to be the most important one for the period analyzed.

Keywords: economic growth; human capital; banking credit; cities (search for similar items in EconPapers)
JEL-codes: E44 I20 O40 R10 (search for similar items in EconPapers)
Date: 2012
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