This paper presents a new data set on human capital. It is based upon data released at the OECD for a subgroup of 38 member and non-member countries, and an effort performed at the Development Centre to expand this data set to other developing countries. The key to our methodology is to minimise...

This paper studies the puzzling lack of correlation between income and schooling in macro regressions. It is argued that the root of the puzzle is threefold. First, there is a problem of a proper definition of the way in which years of schooling should enter into a production function. Second,...

Are capital inflows associated with faster income growth? There are a large number of empirical studies that identify the most relevant determinants of a country’s growth rate. However, this literature has not explored the growth impact of the various types of capital inflows. The present...

Intro -- Contents -- Introduction -- I Why the West? -- 1 Genesis -- 2 The Birth of the Modern World -- 3 Malthus' Law -- 4 Unbound Prometheus -- 5 Perpetual Growth -- II Prosperity and Depression -- 6 The Economic Consequences of the War -- 7 The Great Crisis and Its Lessons -- 8 The Golden Age...