Abstract

http://ssrn.com/abstract=1259854
 
 

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International TFP Dynamics and Human Capital Stocks: A Panel Data Analysis, 1960-2003


Adriana Di Liberto


Università di Cagliari and Crenos; University of Cagliari, CRENoS

Francesco Pigliaru


University of Cagliari and CRENoS

Piergiorgio Chelucci


Universita di Cagliari

August 27, 2008


Abstract:     
This paper adopts a fixed-effect panel methodology that enables us to take into account both TFP and neoclassical convergence. We use a sample of 76 countries, 1960-2003 and estimate TFP values obtained by using different estimators such as LSDV, Kiviet-corrected LSDV, and GMM a la Arellano and Bond. In our estimates, cross-country TFP dynamics shows that most countries in the sample do not catch up with the USA. We also find conditional convergence in TFP levels and that human capital acts as a robust enhancing factor of technology adoption, as suggested by Nelson and Phelps in 1966. In contrast with previous evidence, in our results even very low level of human capital stocks allow a country to enter a "conditional TFP convergence club" - a result again consistent with the original version of the Nelson-Phelps hypothesis. Further, our results imply a plausible link between stages of development and returns to different levels of education. Finally, the positive influence of human capital on technology catch up is robust to the inclusion of controls for a country's institutional quality.

Number of Pages in PDF File: 34

Keywords: economic growth, TFP, human capita, dynamic panel data

JEL Classification: O47, O33, C23

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Date posted: August 28, 2008  

Suggested Citation

Di Liberto, Adriana and Pigliaru, Francesco and Chelucci, Piergiorgio, International TFP Dynamics and Human Capital Stocks: A Panel Data Analysis, 1960-2003 (August 27, 2008). Available at SSRN: http://ssrn.com/abstract=1259854 or http://dx.doi.org/10.2139/ssrn.1259854

Contact Information

Adriana Di Liberto
Università di Cagliari and Crenos ( email )
via S. Ignazio 78
Cagliari, 09123
Italy
University of Cagliari, CRENoS
V. S. Ignazio 78
Cagliari, 09124
Italy
Francesco Pigliaru (Contact Author)
University of Cagliari and CRENoS ( email )
Viale S. Ignazio, 78
Cagliari I-09123
Italy
070-6753818 (Phone)
070-6753760 (Fax)
HOME PAGE: http://francescopigliaru@blogspot.com
Piergiorgio Chelucci
Universita di Cagliari ( email )
Cagliari, 09124
Italy
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