Human Capital Convergence: A Joint Estimation Approach

IMF Staff Papers, Vol. 49, No. 2, 2002

Posted: 30 Jul 2010

See all articles by Randa Sab

Randa Sab

International Monetary Fund (IMF) - Middle East and Central Asia Department

Stephen C. Smith

George Washington University - Department of Economics

Date Written: 2002

Abstract

Abstract: In the growth literature, evidence on convergence of per capita incomes is mixed. In the development literature, health and education indicators are often used to measure countries' development progress. This study examines whether average stocks of health and education are converging across countries and calculates the speed of their convergence using data from 84 countries for 1970­90. A three-stage least-squares (3SLS) procedure is used in a joint analysis of human capital convergence. The results confirm that investments in education and health are closely linked. The study finds unconditional convergence for life expectancy and infant survival, and for the stock of education as measured by average levels of total and secondary schooling in the adult population.

Keywords: human capital, convergence, developing countries

JEL Classification: O15, O4, J24, I19

Suggested Citation

Sab, Randa and Smith, Stephen C., Human Capital Convergence: A Joint Estimation Approach (2002). IMF Staff Papers, Vol. 49, No. 2, 2002, Available at SSRN: https://ssrn.com/abstract=1439345

Randa Sab (Contact Author)

International Monetary Fund (IMF) - Middle East and Central Asia Department ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Stephen C. Smith

George Washington University - Department of Economics ( email )

2115 G Street NW
306 Monroe Hall
Washington, DC 20052
United States

HOME PAGE: http://https://www2.gwu.edu/~iiep/about/faculty/ssmith/

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