ECONOMIC GROWTH AND QUALITY ADJUSTED HUMAN CAPITAL: 1976-2013 PANEL DATA STUDY

45286

In this study, the effects of the quality-adjusted human capital on the level of per-worker output were investigated long-run coefficients with AMG and CCEMG estimator which are also taking into account heterogeneity and cross-sectional dependence problem. The study included 80 countries and 1976-2013 period. In order to receive better results oil rich countries are excluded from the data set. According to the coefficients obtained from both methods, in the long-term quality adjusted human capital variable has a positive and significant effect on the per worker output. According to comparative results, trying to measure the effect of human capital on per-worker output without quality adjust may lead to over-estimate variable values.

551

Growth , Human Capital , AMG and CCEMG Estimators

Abant Sosyal Bilimler Dergisi

571

Abant Sosyal Bilimler Dergisi