scholarly journals Development Accounting

2010 ◽  
Vol 2 (1) ◽  
pp. 207-223 ◽  
Author(s):  
Chang-Tai Hsieh ◽  
Peter J. Klenow
Keyword(s):  
Human Capital ◽  
Total Factor Productivity ◽  
Capital Accumulation ◽  
Physical Capital ◽  
Human Capital Accumulation ◽  
Factor Productivity ◽  
Income Levels ◽  
The Past ◽  
Development Accounting ◽  
Proximate Determinants

Researchers have made much progress in the past 25 years in accounting for the proximate determinants of income levels: physical capital, human capital, and Total Factor Productivity (TFP). But we still know little about why these factors vary. We argue that TFP exerts a powerful influence on output not only directly, but also indirectly, through its effect on physical and human capital accumulation. We discuss why TFP varies across countries, highlighting misallocation of inputs across firms and industries as a key determinant. (JEL E22, E23, F21, F35, O10, O40)

scholarly journals The Heterogeneous Impacts of Human Capital on Green Total Factor Productivity: Regional Diversity Perspective

2021 ◽  
Vol 9 ◽  
Author(s):  
Hang Xiao ◽  
Jialu You
Keyword(s):  
Human Capital ◽  
Total Factor Productivity ◽  
Capital Accumulation ◽  
Positive Influence ◽  
Human Capital Accumulation ◽  
Factor Productivity ◽  
Tobit Regression ◽  
Positive Effects ◽  
Heterogeneous Effects ◽  
Fiscal Spending

That human capital improves the efficiency of Green Total Factor Productivity has been established in research fields, but the heterogeneous effects of human capital on GTFP and its sustainable mechanisms are unclear. This study examines the effects of human capital accumulation, fiscal spending on education, and innovation on GTFP efficiency under spatial and temporal diversity. Employing panel data from 30 provinces from 2001 to 2018 in China, we analyzed the dynamic and static efficiency of GTFP in different regions by three-stage data envelopment analysis (DEA). The heterogeneous effects of human capital on GTFP were explored through Tobit regression. Results reveal that the average value of GTFP efficiency is an inverted U-shape and the presence of significant t geography differences. Human capital accumulation and fiscal spending on education have positive effects on GTFP efficiency; however, innovation negatively affects it. At the same time, marketization growth decreases the positive influence of human capital and education on GTFP efficiency. While, this effect was not observed regarding innovation, the implication of these results concerning the human capital heterogeneous effects of GTFP efficiency in a different geographic context. Establishing a fair and transparent system can reduce the endowments gap and effectively promote GTFP efficiency in developing countries.

HOW LONG DOES ECONOMIC INJUSTICE LAST?

2021 ◽  
Vol 255 ◽  
pp. 69-78
Author(s):  
David Miles
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Accumulation ◽  
Physical Capital ◽  
Human Capital Accumulation ◽  
Distribution Of Wealth ◽  
The Past ◽  
Economic Injustice ◽  
Past Wrongs ◽  
Past Injustices

This article assesses whether economic injustices that took place in the past still have significant implications for the material welfare of people many years later. That issue is central to the question of how fair is the distribution of wealth and income today. It is also relevant to issues of reparations for past wrongs. I find that in standard neoclassical models of economic growth the lingering effects of injustice from more than 70 years ago are generally small. But effects can last much longer once we allow for impacts of past injustices to be transmitted through human capital accumulation as well as physical capital.

scholarly journals Measuring Total Factor Productivity: Accounting for cross country differences in income per capita // Мјерење укупне факторске продуктивности: обрачун међудржавних разлика у БДП-у по раднику

2011 ◽  
Vol 11 (19) ◽  
pp. 75
Author(s):  
Stevo Pucar ◽  
Zoran Borovic
Keyword(s):  
Total Factor Productivity ◽  
Factor Productivity ◽  
Productivity Measurement ◽  
Production Factors ◽  
First Pass ◽  
Development Accounting ◽  
Proximate Determinants ◽  
Country Differences ◽  
Cross Country ◽  
The Cross

Summary: Why are some countries so much richer than others? Why do some countries produce so much more output per worker than others? Influential works by Klenow & Rodriguez-Clare (1997), Hall and Jones (1999), and Parente & Prescott (2000), among others, have argued that most of the cross country differences in output per worker is explained by differences in total factor productivity. Total factor productivity measurement enables researchers to determine the contribution of supply-side production factors to economic growth. Development Accounting is a first-pass attempt at organizing the answer around two proximate determinants: factors of production and efficiency. It answers the question “how much of the cross-country income variance can be attributed to differences in (physical and human) capital, and how much to differences in the efficiency with which capital is used’’?In this article, we will outline framework for growth accounting to account for cross-country difference in income of Republic of Srpska, Republic of Croatia and Republic of Serbia. The current consensus is that differences in income per worker across countries do not arise primarly from differences in quantities in capital or labour, but rather from differences in efficiency with which are these factors used. We find that total factor productivity is very important for the growth of output per worker, but only in cases of Serbia and Croatia. In case of Srpska the most important factor for the growth of output per worker is growth of capital.Резиме: Зашто су неке земље толико богатије од других? Зашто неке земље остварују много већи обим производње по раднику од других? Утицајни радови Klenow и Rodriguez-Clare (1997), Hall и Jones (1999), и Parente и Prescott (2000), између осталих, тврдили су да је највећи број међудржавних разлика у обиму производње по раднику резултат разлика у Укупној Факторској Продуктивности. Мјерење Укупне Факторске Продуктивности омогућава истраживачима да утврде допринос фактора на страни понуде привредном расту. Развој ‘’рачуноводства раста’’ представља први покушаја анализирања двије сродне детерминанте раста: фактори производње и ефикасности.  Ова анализа даје одговор на питање “колико су међудржавне разлике у оствареном БДП-у резултат међудржавних разлика у (физичком и људском) капиталу, а колико су резултат разлика у ефикасности којом се капитал користи’’?У овом раду ћемо приказати оквир за “рачуноводство раста’’ који ће се примјенити за обрачун међудржавних разлика у БДП-у по раднику за Републику Српску, Републику Хрватску и Републику Србију. Тренутни консензус међу ауторима је да разлике у БДП-у по раднику између земаља не настају првенствено због разлика у количинама капитала или рада, него због разлика у ефикасности са којом се ови фактори користе. Анализом смо дошли до закључка да је Укупна Факторска Продуктивност веома важна за раст производње по раднику, али само у случајевима Србије и Хрватске. У случају Српске најважнији фактор за раст производње по раднику је раст техничко-технолошке опремљености рада капиталом.

scholarly journals Province-wise Growth Patterns in Human Capital Accumulation

2006 ◽  
Vol 45 (4II) ◽  
pp. 873-890 ◽  
Author(s):  
Muhammad Sabir ◽  
Zehra Aftab
Keyword(s):  
Human Capital ◽  
Capital Accumulation ◽  
Formal Education ◽  
Labour Force ◽  
Growth Patterns ◽  
Human Capital Accumulation ◽  
Labour Force Survey ◽  
Provincial Level ◽  
The Past ◽  
Level Data

It is apparent from various labour force surveys that during the past 20 years Pakistan’s employed labour force has become more “educated”. For instance, according to the Labour Force Survey 1982-83, 28 percent of the employed labour force had attained formal education.12 In comparison, the literate employed labour force in 1999- 2000 is estimated at 46 percent, while the formally educated is 43 percent. However, the pattern of growth in educated labour force is not uniform in all four provinces of the country. A closer look at disaggregated provincial level data reflects the disparity in employed labour force in the four provinces: Punjab, Sind, NWFP, and Baluchistan.

The Dynamic Correlation Between Capital Deepening and Total Factor Productivity in China

2020 ◽  
Vol 24 (4) ◽  
pp. 524-531
Author(s):  
Wuliu Zhang ◽  
Keyword(s):  
Human Capital ◽  
Total Factor Productivity ◽  
Negative Impact ◽  
Positive Impact ◽  
Linear Structure ◽  
Physical Capital ◽  
Influence Coefficient ◽  
Factor Productivity ◽  
Capital Deepening ◽  
The Impact

The impact of capital deepening on total factor productivity (TFP) is a significant and controversial issue. Based on the calculation of relevant indicators, this study adopts a Bayesian time-varying parameter model, Bayesian quantile regression, and adaptive Bayesian quantile models for in-depth statistical analysis. TFP was found to have a complex non-linear structure, and physical and human capital deepening indicators show a significant upward trend. The deepening of physical capital has a negative impact on TFP, while the deepening of human capital has a positive impact. In the capital deepening structure, the level of TFP has been improved and its structure optimized. Primary human and non-production physical capital deepening has no significant effect on TFP, while secondary human capital deepening has some significant effects on TFP. Tertiary and productive human capital deepening of TFP present two different forms of significant effect: the influence coefficient of the former declines in the increasing quantile and the change is larger, while the latter has a stable negative impact. The results of this study provide insights in terms of the improvement of China’s productivity.

scholarly journals Corruption, Public Expenditure and Human Capital Accumulation

2016 ◽  
Vol 8 (1) ◽  
pp. 17-45
Author(s):  
Spyridon Boikos
Keyword(s):  
Human Capital ◽  
Capital Accumulation ◽  
Capital Investment ◽  
Public Expenditure ◽  
Parametric Method ◽  
Physical Capital ◽  
Human Capital Accumulation ◽  
Linear Effect ◽  
The Public ◽  
The Impact

This paper investigates the possible non-linear effect of corruption on human capital accumulation through two channels. The first channel is through the effect of corruption on the public expenditure on education and the second channel is through the effect of corruption on the physical capital investment. Initially, we construct an endogenous two-sector growth model with human capital accumulation and we try to explore the impact of corruption on the allocation of public expenditure and therefore on the distribution of human capital across sectors. Then by using a semi-parametric method, we confirm the presence of non-linearities between human capital and corruption.

scholarly journals IS HUMAN CAPITAL ACCUMULATION A GROWTH DRIVER IN NIGERIA? AN EMPIRICAL INVESTIGATION

2018 ◽  
Vol 3 (2) ◽  
pp. 66-77
Author(s):  
Hassan O. Ozekhome
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Accumulation ◽  
Physical Capital ◽  
The Other ◽  
Series Data ◽  
Human Capital Accumulation ◽  
Infrastructural Development ◽  
Long Run ◽  
Physical Capital Accumulation

Accumulation of human capital is critical to sustained economic growth in the long run, since it facilitates the efficient absorption of new capital developments, improves the speed of adaptation of entrepreneurs and generates innovation necessary for sustained economic growth. It is against this premise this study investigate the human-capital accumulation growth-nexus in Nigeria. Employing a dynamic approach, involving test for unit roots, and cointegration, and finally, the Generalized Method of Moments (GMM) estimation techniques on annual time series data, covering the period 1981 to 2016, sourced from the World Bank Development Indicators (WDI) and Central Bank of Nigeria (CBN) Statistical Bulletin, the empirical findings reveal that human and physical capital accumulation significantly induce rapid and sustained economic growth in the long-run. The other variables- infrastructural development (measured by ICT infrastructure) and industrial output (a measure of industrialization) have positive but weak impacts on economic growth, on account of the weak infrastructural development, and low level of industrialization in Nigeria. Inflation rate (a measure of macroeconomic policy environment) on the other hand, is found to have a militating effect on economic growth. We recommend amongst others; sustained investments in human and physical capital accumulation, stable and coherent macroeconomic policies, particularly with respect to taming of domestic inflationary pressures, supportive institutional structures and aggressive industrialization-enhancing policies, in order to enhance sustained economic growth in Nigeria.

scholarly journals Economic growth and labor market friction: a quantitative study on Japanese structural transformation

2016 ◽  
Vol 17 (1) ◽  
Author(s):  
Seung-Gyu Sim ◽  
Seungjoon Oh
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Labor Market ◽  
Structural Transformation ◽  
Capital Accumulation ◽  
Physical Capital ◽  
Labor Market Institutions ◽  
Human Capital Accumulation ◽  
Market Friction ◽  
Labor Market Friction

AbstractThis paper develops a tractable multi-sector endogenous growth model with labor market friction and human capital accumulation to analyze the underlying link between economic growth and labor market institutions. The model, calibrated based on the Japanese structural transformation episodes, demonstrates that lifetime employment system has contributed to unprecedentedly rapid economic growth, by enhancing human capital accumulation and facilitating physical capital formation. The counterfactual experiment finds that had the job durations of a typical worker been 1 year (roughly one tenth of the actual average job duration) for 1960–1990 in the Japanese labor market, the non-agricultural GDP per capita in 1990 would have accounted for 71 percent of the actual values.

scholarly journals Do Long-Run Disasters Promote Human Capital in China? —The Impact of 500 Years of Natural Disasters on County-Level Human-Capital Accumulation

2020 ◽  
Vol 17 (20) ◽  
pp. 7422
Author(s):  
Zhidi Zhang ◽  
Jianqing Ruan
Keyword(s):  
Human Capital ◽  
Natural Disasters ◽  
Capital Accumulation ◽  
Capital Investment ◽  
Physical Capital ◽  
Human Capital Accumulation ◽  
Force Dynamics ◽  
Long Run ◽  
The Impact

Is there a relationship between the frequency of regional natural disasters and long-term human-capital accumulation? This article investigates the long-run causality between natural calamities and human-capital accumulation with macro and micro data. Empirical cross-county analysis demonstrates that higher frequencies of natural calamities are correlated with higher rates of human-capital accumulation. Specifically, on the basis of empirical data of the fifth census in 2000 and China’s Labor-Force Dynamics Survey in 2012, this paper exploits the two databases to infer that the high disaster frequency in the years of 1500–2000 was likely to increase regional human-capital accumulation on district level. High natural-calamity frequency reduces the expected rate of returning to physical capital, which also serves to increase human-capital. Thus, experiencing with natural disasters would influence human’s preference to human-capital investment instead of physical capital.

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