Human Capital Externalities and Growth

Borradores de Economia
Number: 
631
Published: 
Classification JEL: 
J24, O11, O40, Y40
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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This paper provides evidence of positive externalities in human capital that help to explain divergences in development worldwide. We estimate the supply and demand for human capital using a five-year panel involving 60 countries and covering the period 1