This paper reviews the evidence on the importance of human capital for macro-economic development. Through the lens of a simple aggregate production function, human capital might increase output per capita by directly entering in the production process, incentivising the accumulation of...

This paper reviews the evidence on the importance of human capital for macro-economic development. Through the lens of a simple aggregate production function, human capital might increase output per capita by directly entering in the production process, incentivising the accumulation of...

Results from international standardized tests show large cross-country differences in students' performances. Where do these gaps come from? This paper argues that differences in cultural environments and parental inputs may be of great importance. We show that the school performance of...