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Human Capital in Growth Regressions: How much Difference Does Data Quality Make?

Angel de La Fuente () and Rafael Donénech
Authors registered in the RePEc Author Service: Rafael Domenech ()

No 262, OECD Economics Department Working Papers from OECD Publishing

Abstract: We construct a revised version of the Barro and Lee (1996) data set for a sample of OECD countries using previously unexploited sources and following a heuristic approach to obtain plausible time profiles for attainment levels by removing sharp breaks in the data that seem to reflect changes in classification criteria. It is then shown that these revised data perform much better than the Barro and Lee (1996) or Nehru et al. (1995) series in a number of growth specifications. We interpret these results as an indication that poor data quality may be behind counterintuitive findings in the recent literature on the (lack of) relationship between educational investment and growth. Using our preferred empirical specification, we also show that the contribution of TFP to cross-country productivity differentials is substantial and that its importance relative to differences in factor stocks increases over time ... Nous avons révisé l’ensemble des données de Barro et Lee (1996) pour un échantillon de pays de l’OCDE, en utilisant des sources auparavant inexploitées, en suivant une approche heuristique afin d’obtenir des profils temporels plausibles en ce qui concerne les niveaux d’éducation en supprimant les ruptures importantes dans les séries qui semblent refléter des changements dans les critères de classification. On démontre ensuite que la performance des données révisées est meilleure que celle obtenue en utilisant les séries de Barro et Lee (1996) et de Nehru et al. (1995) dans plusieurs specifications de croissance. Nous interprétons ces résultats comme une indication du fait que la mauvaise qualité des données pourrait être à l’origine des résultats contraires à l’intuition dans la littérature récente sur le lien non-significatif entre l’investissement éducatif et la croissance. En utilisant notre spécification empirique préférée, nous démontrons également que la contribution de la ...

Keywords: capital humain; croissance; growth; human capital (search for similar items in EconPapers)
JEL-codes: I20 O30 O40 (search for similar items in EconPapers)
Date: 2000-10-12
References: Add references at CitEc
Citations: View citations in EconPapers (74) Track citations by RSS feed

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https://doi.org/10.1787/750033432084 (text/html)

Related works:
Journal Article: Human Capital in Growth Regressions: How Much Difference Does Data Quality Make? (2006) Downloads
Working Paper: Human Capital In Growth Regressions: How Much Difference Does Data Quality Make? (2000) Downloads
Working Paper: HUMAN CAPITAL IN GROWTH REGRESSIONS: HOW MUCH DIFFERENCE DOES DATA QUALITY MAKE? Downloads
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