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IR07-018_LopezBazo-Moreno.pdf (211.42 KB)

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Working paper

Publication date

2007

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cc-by-nc-nd, (c) López-Bazo et al., 2007
Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/63560

Regional returns to physical capital: are they conditioned by educational attainment?

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Abstract

This paper provides novel empirical evidence of the indirect effect of educational attainment on regional economic growth, through its influence on the profitability of investment in physical capital. We test the hypothesis that the regional heterogeneity of the return to physical capital can be directly related to the existing heterogeneity in the educational attainment of workers. The results for the Spanish case support our hypothesis that the higher the educational attainment of workers the greater the returns on investment in physical capital. In fact, this effect seems to be sufficiently strong to have counterbalanced the traditional mechanism of decreasing returns to capital accumulation.

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Dividends, Economia regional, Productivitat, Control de costos, Recursos humans

Subject (English)

Dividends, Regional economics, Productivity, Cost control, Human capital

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Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))
Documents de treball / Informes (Econometria, Estadística i Economia Aplicada)

Citation

LÓPEZ-BAZO, Enrique and MORENO SERRANO, Rosina. Regional returns to physical capital: are they conditioned by educational attainment?. IREA – Working Papers. 2007. Vol.  IR07/18. ISSN 2014-1254. [consulted: 15 of August of 2026]. Available at: https://hdl.handle.net/2445/63560

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