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Title: Does human capital stimulate investment in physical capital? Evidence from a cost system framework (WP)
Author: López-Bazo, Enrique
Moreno Serrano, Rosina
Keywords: Creixement econòmic
Recursos humans
Economic growth
Human capital
Issue Date: 2007
Publisher: Universitat de Barcelona. Institut de Recerca en Economia Aplicada Regional i Pública
Series/Report no: [WP E-IR07/17]
Abstract: The direct effect of human capital on economic growth has been widely analysed in the economic literature. This paper, however, focuses on its indirect effect as a stimulus for private investment in physical capital. The methodological framework used is the duality theory, estimating a cost system aggregated with human capital. Empirical evidence is given for Spain for the period 1980-2000. We provide evidence on the indirect effect of human capital in making private capital investment more attractive. Among the main explanations for this process, we observe that higher worker skill levels enable higher returns to be extracted from investment in physical capital.
It is part of: IREA – Working Papers, 2007, IR07/17
ISSN: 2014-1254
Appears in Collections:Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))
Documents de treball / Informes (Econometria, Estadística i Economia Aplicada)

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