The two faces of human capital and their effect on technological progress

López Pueyo, María del Carmen (Universidad de Zaragoza) ; Barcenilla, Sara (Universidad de Zaragoza) ; Giménez, Gregorio (Universidad de Zaragoza)

Resumen: The aim of the paper is to investigate the effect of a new international estimate of human capital on the process of innovation and technology catch-up in developed countries. The new human capital variable is a measure of average human capital efficiency per hour worked that considers the role of both the quantity and quality of education. Our methodology is based on the framework proposed by Benhabib and Spiegel (2005) that uses a logistic function of technology diffusion. The analysis employs panel econometrics and tackles the endogeneity bias. Empirical results show robust evidence of the significance of this human capital variable as a driver of innovation and diffusion. The effects of cognitive skills on technological progress are higher the closer the economies are to the technology frontier. Furthermore, as technological progress has been measured using the improved TFP variables built in PWT 8.0, we confirm the existence of social returns to human capital.

Idioma: Inglés

DOI: 10.2298/PAN151002014L

Año: 2018

Publicado en: PANOECONOMICUS 65, 2 (2018), 163-181
ISSN: 1452-595X

Factor impacto JCR: 0.594 (2018)

Categ. JCR: ECONOMICS rank: 306 / 363 = 0.843 (2018) - Q4 - T3

Factor impacto SCIMAGO: 0.343 - Economics, Econometrics and Finance (miscellaneous) (Q2)

Financiación: info:eu-repo/grantAgreement/ES/DGA/269165
Financiación: info:eu-repo/grantAgreement/ES/DGA/269190

Tipo y forma: Artículo (Versión definitiva)

Área (Departamento): Área Economía Aplicada (Dpto. Estruc.Hª Econ.y Eco.Pb.)