This study presents stylized facts for economic growth for the second half of the 20th century, and evaluates the explanatory capacity of these facts by two of the main theoretical approaches that deal with the relation between human capital and growth: the Lucas (1988) model, and the Nelson and...

Panel cointegration techniques applied to pooled data for 27 countries for the period 1960 to 2000 indicate that (1) government spending in education and innovation indicators is cointegrated; (2) education hierarchy is relevant when explaining innovation; and (3) relationship between education...