Abstract
In this article, we estimate the growth effect of human capital with country-specific time series data for Australia. In doing so, we extended the Solow (1956) growth model by using educational attainment as a measure of human capital developed by Barro and Lee (2010). The extended Solow (1956) model performs well after allowing for the presence of structural changes. Our results, based on alternative time series methods, show that educational attainment has a small and significant permanent effect on the growth rate of per worker output in Australia.
| Original language | English |
|---|---|
| Pages (from-to) | 3843-3852 |
| Number of pages | 10 |
| Journal | Applied Economics |
| Volume | 45 |
| Issue number | 27 |
| DOIs | |
| Publication status | Published - 2013 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth
Keywords
- Australia
- economic development
- educational achievement
- human capital
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