2004/01/01 by Claude Diebolt, Diebolt, Claude, Magali Jaoul‐Grammare +1
Economics, Econometrics and Finance · #Ausgaben #Bevölkerung #Bildung #Bruttoinlandsprodukt #Economic Growth and Productivity #Fiscal Policy and Economic Growth #Humankapital #Investition #Labor market dynamics and wage inequality #Portugal #Spain #Spanien #Wirtschaftsentwicklung #Wirtschaftswachstum #economic development (on national level) #economic growth #education #expenditures #gross domestic product #human capital #international comparison #internationaler Vergleich #investment #population
paper · pdf · doi:10.12759/hsr.29.2004.2.147-159
openalex publication_date 2004/01/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
Recent models of growth, such as Romer (1986,1990) and Lucas (1988), following Arrow (1962) andUzawa (1965), emphas ise human capital investment as animportant factor contributing to long-run growth. In the literature,human capital investment takes several forms (educationalattainment, learning by doing, etc.). Our focus inthis paper is on human capital accumulation through theformal schooling. It is our thesis that education is more anaccompanying investment than a “driving force” behindgrowth. We test this argument with the concept of thecausal relationship formulated by Granger. All the tests areperformed on the basis of the aggregate series of public expenditureson education (EXPEDU), total public expenditures(EXPTOT), population (Population) and Gross domesticproduct (GDP) in Portugal and Spain before WorldWar II.