Human Capital and Growth: A Reassessment using new data

Abstract

In this research paper, we study the impact of human capital on economic growth using Barro and Lee (2013) recent and updated dataset (June, 2014) of human capital variable in a fixed effect and dynamic panel model across 140 countries over the period of 1950 to 2010. Using a modification of Islam (1995) and Barro (2001) empirical framework in a Arellano and Bond 1991) dynamic panel model, we find significant positive impact of human capital on transitional economic growth where female educational attainment is positive and significant long with male education.