Human capital accumulation and technological change were to the twentieth century what physical capital accumulation was to the nineteenth century -- the engine of growth. The accumulation of human capital accounts for almost 60% of all capital formation and 28% of the per capita growth residual...

Human capital accumulation and technological change were to the twentieth century what physical capital accumulation was to the nineteenth century -- the engine of growth. The accumulation of human capital accounts for almost 60% of all capital formation and 28% of the per capita growth residual...

The paper examines the time-series evidence relating to participation rates in further education in England and Wales and, using cointegration analysis, identifies a long-run statistical relationship in the data consistent with an augmented human-capital model. The recent rapid growth of...