Direct and Indirect Effects of Human Capital on World Development, 1960-2004

18 Pages Posted: 20 Aug 2008

See all articles by Maria-Carmen Guisan

Maria-Carmen Guisan

University of Santiago de Compostela

Isabel Neira

affiliation not provided to SSRN

Date Written: August 20, 2008

Abstract

We analyze the main positive effects of human capital on economic development, having into account direct and indirect relationships between the educational level of population and real Gdp per inhabitant through the production function, demographic evolution, industrial development, foreign trade and other effects. We analyze the effects of the educational level of population in America, Europe, Eurasia, Africa and Asia-Pacific during the period 1960-2004 and present the estimation of several econometric models based on international panels of data which show the significant role of education. Authors recommend to foster international cooperation in order to help less developed countries to increase the speed of increase of educational level as the main source for development.

Keywords: Educational level of population, World Development, Econometric Models, Human Capital, America, Europe, Eurasia, Africa, Asia-Pacific, International cooperation for development

JEL Classification: C51, O1, O51, O52, O53, O54, O55

Suggested Citation

Guisan, Maria-Carmen and Neira, Isabel, Direct and Indirect Effects of Human Capital on World Development, 1960-2004 (August 20, 2008). Applied Econometrics and International Development, Vol. 6, No. 1, 2006, Available at SSRN: https://ssrn.com/abstract=1240318

Maria-Carmen Guisan (Contact Author)

University of Santiago de Compostela ( email )

Faculty of Economics and Business
Santiago de Compostela, A Coruña 15704
Spain

HOME PAGE: http://www.usc.es/economet/guisan.htm

Isabel Neira

affiliation not provided to SSRN

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