The Impact of Human Capital on Growth: Evidence from West Africa

Sonia Brunschwig, Emilio Sacerdoti and Jon Tang

No 1998/162, IMF Working Papers from International Monetary Fund

Abstract: This paper analyzes the impact of human capital on growth, on the basis of refined calculations of human capital, and with a focus on West Africa. Using a growth-accounting methodology, it distinguishes the sources of growth between the accumulation of factors of production and changes in production intensity or efficiency. Private capital is found to be particularly important to growth, but human capital appears not to be significant. The paper also identifies the terms of trade, trade openness, the government deficit, and the share of government investment in total investment as key policy variables affecting growth.

Keywords: WP; capital; country; Human capital; growth; Africa; output ratio; contribution to growth; physical capital; capital output ratio; capital growth; labor substitution; production function; initial capital output ratio; coefficient of determination; Total factor productivity; Stocks; Capital accumulation; West Africa (search for similar items in EconPapers)
Pages: 34
Date: 1998-11-01
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Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1998/162

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