The study examines the impact of human capital on economic growth in India for the period 1960 to 2004. Assuming that the mechanism for developing human capital is formal education, we examine the long-run relationship between gross enrolment ratios at different level of education and per capita...

Economic growth and convergence of economies are generally considered to be long-run phenomenon. These long-run discussions some time disguise the actual short-run and medium-run dynamics of the distribution and produce an average result, which not only hide intricate details of the...