Human Capital and Economic Growth

Andreas Savvides is a Professor in the Department of Economics and Legal Studies at Oklahoma State University. Thanasis Stengos is a Professor of Economics at the University of Guelph.

"The authors provide an in-depth investigation of the link between human capital and economic growth. They take an innovative approach, examining the determinants of economic growth through a historical overview of the concept of human capital." —Abstracts of Public Administration, Development, and Environment "This book imparts a deep understanding of the nexus between human capital and aggregate economic growth. By studying this book, you will have not only acquired the specific human capital knowledge to participate in the literature on human capital and growth, but will also have acquired general human capital knowledge that will improve your productivity in other economic areas." —Merwan H. Engineer, University of Victoria "The authors are excellent writers and experts on the topics they cover in this volume. They use an array of results to make the case that, indeed, human capital affects growth in a highly nonlinear way. There is nothing that is as extensive on the issue of human capital and economic growth as this book."—Chris Papageorgiou, Research Department of the International Monetary Fund

• PART I Introduction 1 Introduction to Human Capital and Economic 3 Growth 2 The Concept of Human Capital: A Brief 10 Historical Review PARTII Theoretical Research on Human Capital and Economic Growth 3 Theoretical Models of Human Capital and 27 Economic Growth 4 Human Capital and Endogenous Models of 53 Economic Growth 5 Threshold Effects, Multiple Equilibria, and 84 Nonlinearities in Human Capital and Economic Growth PARTIII The Empirics of Human Capital and Economic Growth 6 Empirical Studies on Human Capital and 107 Economic Growth 7 Human Capital and Economic Growth: Linear 156 Specifications 8 A Primer on Nonparametric Methods and Their 172 Application to Research in Human Capital and Economic Growth 9 Human Capital and Economic Growth: 193 Nonlinear Specifications Appendix: Nonparametric Methods 211 Glossary 217 Bibliography 221