Journal Article

Human Capital and Development

Abstract: Perhaps no question has attracted as much attention in the economics literature as ?Why are some countries richer than others?? In this article, the author revisits the ?development problem? and provides some estimates of the importance of human capital in accounting for cross-country differences in output per worker. His results suggest that human capital has a central role in determining the wealth of nations and that the quality of human capital varies systematically with the level of development.

JEL Classification: E00; O40;

Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: Review

Publication Date: 2015

Volume: 97

Issue: 3