The causal effect of education on aggregate income

Marcelo Soto

No 394, Working Papers from Barcelona School of Economics

Abstract: Empirical studies assume that the macro Mincer return on schooling is constant 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 coefficients. 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)
Date: 2015-09
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: The causal effect of education on aggregate income (2009)
Working Paper: The Causal Effect of Education on Aggregate Income (2006)
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