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We estimate the relative roles of factor inputs and productivity in explaining the level of economic development, which is measured as output per worker. For a large sample of countries, we show that alternative identifying productivity assumptions and alternative measures of human capital have...
Persistent link: https://www.econbiz.de/10011472182
, misspecifies the relationship between education and the stock of human capital. Based on human capital theory, the specification of …
Persistent link: https://www.econbiz.de/10011473489