Massey University

The Role of Human Capital in Economic Growth: Some Empirical Evidence on the `Lucas vs. Nelson-Phelps'Controversy.

Email address: H.Engelbrecht@massey.ac.nz

Abstract:
It is argued that the usual interpretation of the Nelson-Phelps approach to the modellingof human capital in growth regressions is biased, distracting from Nelson and Phelps’ main contribution. It is shown that for OECD economies, both our interpretation of the Nelson-Phelps approach, as well as the Lucas approach, are supported when outliers are deleted from the data.

PDF file of paper: engelbrecht.pdf

Session: Economic Growth

Time: Sunday, 8 July, 8am - 9:30am

Room: E