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Human Capital Accumulation and Economic Growth: A Cross-Country Empirical Investigation

Year 2002, Volume: 1 Issue: 2, 287 - 306, 16.08.2002

Halit Yanıkkaya

Abstract

There is a vast literature on the role of human capital on long-run economic growth. Theoretical studies consistently show that human capital is one of the most important determinants of economic growth of the countries. Although the relationship between human capital and growth is well established on theoretical grounds, findings of empirical studies on the relationship between human capital measures and growth are surprisingly mixed. Empirical growth studies have used two major types of proxies for human capital: measures of schooling and health indicators, accordingly, two major categories of proxies for human capital, namely health indicators and various measures of schooling are used in this study. Our results indicate a statistically significant and positive relationship between growth and health ındicators, which is measured by life expectancy at birth and ınfant mortality rates. Our regression results for over twenty educational measures, however, imply that there is no straight and simple relationship between human capital and growth. Only three out of twenty-two schooling measures show the positive and strong relationship between human capital and growth. More importantly, the other variables either have incorrect signs or insignificant coefficients. Thus, they fail to show a positive and strong relationship between human capital and growth.

Keywords

Human Capital Accumulation Endogenous Growth Economic Growth

References

  • BARRO, R.J. (1991), “Economic Growth in a Cross Section of Countries”, Quarterly Journal of Economics, 106, 407-443.
  • BARRO, R.J. (1997), Determinants of Economic Growth: A Cross-Country Empirical Study, Cambridge and London: MIT Press.
  • BARRO, R.J. LEE, J-W. (1993), “International Comparisons of Educational Attainment”, Journal of Monetary Economics, 32, 363-394.
  • BARRO, R.J. LEE, J-W. (1997), “Schooling Quality in a Cross Section of Countries”, NBER Working Paper Series, No. 6198.
  • BARRO, R.J., SALA-I-MARTIN, X. (1995), Economic Growth, New York: McGraw-Hill.
  • BECKER, G.S., MURPHY, K.M., TAMURA, R. (1990), “Humal Capital, Fertility, and Economic Growth”, Journal of Political Economy, 98, S12-S37.
  • BENHABİB, J, SPİEGEL, M. M. (1994), “The Role of Human Capital in Economic Development: Evidence from Aggregate Cross-Country Data”, Journal of Monetary Economics, 34, 143-173.
  • BILS, M. KLENOW, P.J. (1998), “Does Schooling Cause Growth or the Other Way Around”, NBER Working Paper Series, No. 6393.
  • BORENSZTEIN E., DE GREGORIO, J., LEE, J-K. (1998), “How Does Foreign Direct Investment Affect Economic Growth”, Journal of International Economics, 45, 115-135.
  • BULUTAY, T (1995), Yeni Büyüme Kuramları ve Büyüme, Kalkınma Konusunda Diğer Bazı Yaklaşımlar, Ankara, DPT.
  • CABELLE, J. SANTOS, M.S. (1993), “On Endogenous Growth with Physical and Human Capital”, The Journal of Political Economy, 101, 1042-1067.
  • EASTERLY, W.(1999), “Life During Growth”, Journal of Economic Growth, 4, 239-275.
  • GREENE, W. H. (1997), Econometric Analysis. New Jersey: Prentice Hall.
  • GROSSMAN, G.M., HELPMAN, E. (1990), “Comparative Advantage and Long-Run Growth”, American Economic Review, 80, 796-815.
  • KALAITZIDAKIS, P, MAMUNEAS T P., SAVVİDES, A., STENGOS, T. (2001), “Measures of Human Capital and Nonlinearities in Economic Growth”, Journal of Economic Growth, 6, 229-254.
  • KLENOW, P.J., RODRIGUEZ-CLARE, A. (1997), “Economic Growth: A Review Essay”, Journal of Monetary Economics, 40, 597-617.
  • KRUEGER, A.B., LINDAHL M. (2000), “Education for Growth: Why and for Whom”, NBER Working Paper Series, No. 7591.
  • LEVINE, R, RENELT, D. (1992), “A Sensitivity Analysis of Cross-Country Growth Regressions”, American Economic Review, 82, 942-963.
  • LUCAS, R. E. JR. (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, 22, 3-42.
  • LUCAS, R. E. JR. (1993), “Making a Miracle”, Econometrica, 61, 251-272.
  • MANKIW, G.N., ROMER, D., WEIL, D. N. (1992), “Contribution to the Empirics of Economic Growth”, Quarterly Journal of Economics, 107, 407-437.
  • NUXOLL, D.A. (1994), “Differences in Relative Prices and International Differences in Growth Rates”, American Economic Review, 84, 1423-1436.
  • PRITCHETT, L. (1996), “Where Has All The Education Gone?” World Bank Working Paper Series, No. 1581.
  • REBELO, S. (1991), “ Long Run Policy Analysis and Long Run Growth”, Journal of Political Economy, 99, 500-521.
  • ROMER, P.M. (1986), “Increasing Returns and Long-Run Growth”, Journal of Political Economy, 94, 1002-1037.
  • ROMER, P.M. (1987), “Growth Based on Increasing Returns due to Specialization”, American Economic Review, 77, 56-62.
  • ROMER, P.M. (1990), “Endogenous Technical Change”, Journal of Political Economy, 98, S71-S102.
  • STOKEY, N. L. (1991), “Human Capital Product Quality and Growth”, Quarterly Journal of Economics, 106, 701-717.
  • SUMMERS, R, HESTON, A. (1991), “The Penn World Table (Mark 5): En Expanded Set of International Comparisons, 1950-1988”, Quaeterly Journal of Economics, 106, 327-368.
  • TEMPLE, J. (1999a), “The New Growth Evidence”, Journal of Economic Literature, Vol. XXXVII, 112-156.
  • TEMPLE, J. (1999b), “A Positive Effect of Human Capital on Economic Growth”, Economics Letters, 65, 131-134.
  • YOUNG, A. (1991), “Learning by Doing and the Dynamics Effects of International Trade”, Quarterly Journal of Economics, 106, 369-405.

Beşeri Sermaye Birikiminin Ekonomik Büyüme Sürecindeki Rolü Üzerine Ampirik Bir Çalışma

Year 2002, Volume: 1 Issue: 2, 287 - 306, 16.08.2002

Halit Yanıkkaya

Abstract

Son yıllarda yapılan teorik çalışmalar, beşeri sermaye birikiminin ekonomik büyümeyi belirleyen en önemli faktörlerden biri olduğunu göstermektedir. İçsel büyüme modellerinin, beşeri sermaye birikimine içsel büyümenin motor görevini vermesine ve bunun önemini ısrarla vurgulanmasına rağmen, bu konudaki uygulamalı çalışmalar çok çelişkili sonuçlar içermektedir. Beşeri sermaye literatüründe, bir ülkenin ya da o ülke bireylerinin sahip olduğu beşeri sermaye miktarını ölçmek için genellikle bireylerin sağlık ve eğitim durumlarını gösteren değişkenler yaygın olarak kullanılmaktadır. Bu literatüre paralel olarak, çalışmamızda ilk olarak, ortalama yaşam süresi ve bebek ölüm oranları kullanılarak beşeri sermaye stoğunun ekonomik büyüme üzerinde etkileri araştırıldı. Pozitif ve istatistiksel olarak anlamlı parametreler bu iki değişken arasında güçlü ve doğrudan bir ilişkinin varlığını ortaya koymaktadır. İkinci olarak da eğitim miktarını ve kalitesini ölçen yirminin üzerinde değişken kullanarak, beşeri sermayenin ekonomik büyüme sürecindeki rolü analiz edildi. Tahmin edilen parametreler beşeri sermaye ile büyüme arasında birbiriyle çok çelişkili ilişkiler vermektedir. Bir başka deyişle beşeri sermaye ile büyüme arasındaki ilişki seçilen değişkene bağlı olarak değişmektedir. Yirmi iki değişkenden sadece üçü beşeri sermaye birikimiyle ekonomik büyüme arasında pozitif ve istatistiksel olarak anlamlı bir ilişkinin varlığını göstermektedir. Diğer değişkenler için tahmin edilen parametreler ise, bu iki değişken arasında ya negatif ya da hiçbir ilişkinin olmadığını ortaya koymaktadır.

Keywords

Beşeri Sermaye Birikimi İçsel Büyüme Ekonomik Büyüme

References

  • BARRO, R.J. (1991), “Economic Growth in a Cross Section of Countries”, Quarterly Journal of Economics, 106, 407-443.
  • BARRO, R.J. (1997), Determinants of Economic Growth: A Cross-Country Empirical Study, Cambridge and London: MIT Press.
  • BARRO, R.J. LEE, J-W. (1993), “International Comparisons of Educational Attainment”, Journal of Monetary Economics, 32, 363-394.
  • BARRO, R.J. LEE, J-W. (1997), “Schooling Quality in a Cross Section of Countries”, NBER Working Paper Series, No. 6198.
  • BARRO, R.J., SALA-I-MARTIN, X. (1995), Economic Growth, New York: McGraw-Hill.
  • BECKER, G.S., MURPHY, K.M., TAMURA, R. (1990), “Humal Capital, Fertility, and Economic Growth”, Journal of Political Economy, 98, S12-S37.
  • BENHABİB, J, SPİEGEL, M. M. (1994), “The Role of Human Capital in Economic Development: Evidence from Aggregate Cross-Country Data”, Journal of Monetary Economics, 34, 143-173.
  • BILS, M. KLENOW, P.J. (1998), “Does Schooling Cause Growth or the Other Way Around”, NBER Working Paper Series, No. 6393.
  • BORENSZTEIN E., DE GREGORIO, J., LEE, J-K. (1998), “How Does Foreign Direct Investment Affect Economic Growth”, Journal of International Economics, 45, 115-135.
  • BULUTAY, T (1995), Yeni Büyüme Kuramları ve Büyüme, Kalkınma Konusunda Diğer Bazı Yaklaşımlar, Ankara, DPT.
  • CABELLE, J. SANTOS, M.S. (1993), “On Endogenous Growth with Physical and Human Capital”, The Journal of Political Economy, 101, 1042-1067.
  • EASTERLY, W.(1999), “Life During Growth”, Journal of Economic Growth, 4, 239-275.
  • GREENE, W. H. (1997), Econometric Analysis. New Jersey: Prentice Hall.
  • GROSSMAN, G.M., HELPMAN, E. (1990), “Comparative Advantage and Long-Run Growth”, American Economic Review, 80, 796-815.
  • KALAITZIDAKIS, P, MAMUNEAS T P., SAVVİDES, A., STENGOS, T. (2001), “Measures of Human Capital and Nonlinearities in Economic Growth”, Journal of Economic Growth, 6, 229-254.
  • KLENOW, P.J., RODRIGUEZ-CLARE, A. (1997), “Economic Growth: A Review Essay”, Journal of Monetary Economics, 40, 597-617.
  • KRUEGER, A.B., LINDAHL M. (2000), “Education for Growth: Why and for Whom”, NBER Working Paper Series, No. 7591.
  • LEVINE, R, RENELT, D. (1992), “A Sensitivity Analysis of Cross-Country Growth Regressions”, American Economic Review, 82, 942-963.
  • LUCAS, R. E. JR. (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, 22, 3-42.
  • LUCAS, R. E. JR. (1993), “Making a Miracle”, Econometrica, 61, 251-272.
  • MANKIW, G.N., ROMER, D., WEIL, D. N. (1992), “Contribution to the Empirics of Economic Growth”, Quarterly Journal of Economics, 107, 407-437.
  • NUXOLL, D.A. (1994), “Differences in Relative Prices and International Differences in Growth Rates”, American Economic Review, 84, 1423-1436.
  • PRITCHETT, L. (1996), “Where Has All The Education Gone?” World Bank Working Paper Series, No. 1581.
  • REBELO, S. (1991), “ Long Run Policy Analysis and Long Run Growth”, Journal of Political Economy, 99, 500-521.
  • ROMER, P.M. (1986), “Increasing Returns and Long-Run Growth”, Journal of Political Economy, 94, 1002-1037.
  • ROMER, P.M. (1987), “Growth Based on Increasing Returns due to Specialization”, American Economic Review, 77, 56-62.
  • ROMER, P.M. (1990), “Endogenous Technical Change”, Journal of Political Economy, 98, S71-S102.
  • STOKEY, N. L. (1991), “Human Capital Product Quality and Growth”, Quarterly Journal of Economics, 106, 701-717.
  • SUMMERS, R, HESTON, A. (1991), “The Penn World Table (Mark 5): En Expanded Set of International Comparisons, 1950-1988”, Quaeterly Journal of Economics, 106, 327-368.
  • TEMPLE, J. (1999a), “The New Growth Evidence”, Journal of Economic Literature, Vol. XXXVII, 112-156.
  • TEMPLE, J. (1999b), “A Positive Effect of Human Capital on Economic Growth”, Economics Letters, 65, 131-134.
  • YOUNG, A. (1991), “Learning by Doing and the Dynamics Effects of International Trade”, Quarterly Journal of Economics, 106, 369-405.
There are 32 citations in total.

Details

Primary Language Turkish
Subjects Applied Macroeconometrics
Journal Section Research Articles
Authors

Halit Yanıkkaya

Publication Date August 16, 2002
Published in Issue Year 2002 Volume: 1 Issue: 2

Cite

APA Yanıkkaya, H. (2002). Beşeri Sermaye Birikiminin Ekonomik Büyüme Sürecindeki Rolü Üzerine Ampirik Bir Çalışma. İstatistik Araştırma Dergisi, 1(2), 287-306.
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