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Human Capital in Growth Regressions: How Much Difference Does Data Quality Make?
Abstract
We construct estimates of educational attainment for a sample of 21 OECD countries. Our series incorporate previously unexploited information and remove sharp breaks in the data that can only reflect changes in classification criteria. We then construct indicators of the information content of our estimates and a number of previously available data sets and examine their performance in several growth specifications. We find a clear positive correlation between data quality and the size and significance of human capital coefficients in growth regressions. Using an extension of the classical errors in variables model to correct for measurement error bias, we construct a set of meta-estimates of the coefficient of years of schooling in an aggregate Cobb-Douglas production function. Our results suggest that the value of this parameter is likely to be above 0.60.
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Cited by
A new data set of educational attainment in the world, 1950–2010
Barro, R. J., & Lee, J. W. (2013) · Journal of Development Economics · doi:10.1016/j.jdeveco.2012.10.001 · Cited by 4,333
Human Capital and Regional Development *
Gennaioli, N., La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (2013) · The Quarterly Journal of Economics · doi:10.1093/qje/qjs050 · Cited by 1,082
Why it pays off to pay us well: The impact of basic research on economic growth and welfare
Prettner, K., & Werner, K. (2016) · Research Policy · doi:10.1016/j.respol.2016.03.001 · Cited by 80
Metadata
- Authors
- de la Fuente, A., & Doménech, R.
- Venue
- Journal of the European Economic Association
- Publisher
- Oxford University Press (OUP)
- Published
- 2006-03-01
- Volume
- 4
- Issue
- 1
- Pages
- 1-36
- ISSN
- 1542-4766 (ISSN-L)
- 1542-4774
- OpenAlex
- W3121291233
- Cited by
- 604
- References
- 0
- FWCI
- 102.73
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: Human Capital in Growth Regressions: How Much Difference Does Data Quality Make? https://app.cochat.ai/papers/10.1162/jeea.2006.4.1.1
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- de la Fuente, A., & Doménech, R. (2006). Human Capital in Growth Regressions: How Much Difference Does Data Quality Make? Journal of the European Economic Association. https://doi.org/10.1162/jeea.2006.4.1.1
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
