2002•Applied Economics LettersRequires access
On the relationship between human capital accumulation and economic growth
Marı́a Jesús Freire-Serén
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Abstract
The central concern of this article is to give new empirical conclusions on the relationship between human capital and economic growth. With this aim, it runs an estimation that allows us to analyse not only the contribution of human capital to output growth, but also the effect of the level of income on human capital accumulation. In particular, it uses Spanish economic data to jointly estimate the equations of the dynamic system that describes the behaviour of the economy.