Want Economic Growth with Good Quality Institutions? Spend on Education

Dawood Mamoon and Mansoob Murshed

MPRA Paper from University Library of Munich, Germany

Abstract: The purpose of this paper is to compare the role of human capital accumulation measured by number of years of schooling with the relative contribution of institutional capacity to prosperity. We employ several concepts of institutional quality prevalent in the literature. We discover that developing human capital is as important as superior institutional functioning for economic wellbeing. Indeed, the accumulation of human capital stocks via increased education might lead to improved institutional functioning, and the utilisation of policies like trade liberalisation.

Keywords: Growth; Institutions; Human Capital (search for similar items in EconPapers)
JEL-codes: I21 I28 P36 (search for similar items in EconPapers)
Date: 2007-05
New Economics Papers: this item is included in nep-edu, nep-hap and nep-hrm
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:3046

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