Human capital and economic development: a macroeconomic assessment

Despite abundant microeconomic level evidence, the role of human capital in economic development has not been well documented at the macroeconomic level. Up to now, many empirical macro studies lack a consistent theoretical foundation. In addition, the wide range of published results seems to result from measurement problems due to a very narrow concept of human capital focusing on formal education. Future empirical research should take into account other important determinants of human capital such as the quality of education, the experience of the workforce, and the health status and the nutritional status of the population.