6533b85efe1ef96bd12bfaa2

RESEARCH PRODUCT

Human capital in OECD countries: Technical change, efficiency and productivity

José Manuel PastorJoaquín MaudosLorenzo Serrano

subject

Economics and EconometricsLabour economicsPhysical capitalCapital deepeningEconomicsCapital employedCapital intensityCapital Consumption AllowanceFixed capitalProductivityTotal factor productivity

description

The aim of this paper is to analyse the role of human capital in the productivity gains of the OECD countries in the period 1965-90, breaking down the productivity gains into technical change and gains in efficiency. For this purpose we use both a stochastic frontier approach and a non-parametric approach (DEA) and calculate Malmquist indices of productivity. The results obtained indicate the existence of both a level effect (a higher level of human capital raises labour productivity) and a rate effect (a higher level of human capital affects positively the rate of technical change) associated with human capital. The differences among countries in endowments of human capital have worked against labour productivity convergence, since the richer countries, thanks to their greater endowment of human capital, have experienced higher rates of technical change.

yearjournalcountryeditionlanguage
2003-10-01International Review of Applied Economics
https://doi.org/10.1080/0269217032000118756