The causal effect of education on aggregate income

Marcelo Soto

UFAE and IAE Working Papers from Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC)

Abstract: Empirical studies assume that the macro Mincer return on schooling is con- stant across countries. Using a large sample of countries this paper shows that countries with a better quality of education have on average relatively higher macro Mincer coeficients. As rich countries have on average better educational quality, differences in human capital between countries are larger than has been typically assumed in the development accounting literature. Consequently, factor accumulation explains a considerably larger share of income differences across countries than what is usually found.

Keywords: Human capital; income growth; GMM estimation; development accounting. (search for similar items in EconPapers)
JEL-codes: C33 O11 O47 (search for similar items in EconPapers)
Pages: 30
Date: 2009-09-01
New Economics Papers: this item is included in nep-dev, nep-edu, nep-hrm and nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Working Paper: The causal effect of education on aggregate income (2015)
Working Paper: The Causal Effect of Education on Aggregate Income (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:aub:autbar:779.09

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