Economic development and the return to human capital: a smooth coefficient semiparametric approach
使用半参数方法，允许资本、劳动和人力资本的贡献随国家和时间变化，估计了51个不同发展阶段国家的人力资本产出弹性和社会回报。
Abstract This paper investigates the impact of human capital on the process of economic growth by allowing the contribution of traditional inputs (capital and labour) as well as that of human capital to vary both across countries and time. The former is accomplished by constructing an index of TFP growth for traditional inputs, while the latter through semiparametric methods. We derive estimates of the output elasticity and social return to human capital for 51 countries at various stages of economic development. Copyright © 2005 John Wiley & Sons, Ltd.