Human capital accumulation and long-term income growth projections for European regions

Crespo Cuaresma J, Doppelhofer G, Huber F, & Piribauer P (2017). Human capital accumulation and long-term income growth projections for European regions. Journal of Regional Science DOI:10.1111/jors.12339. (In Press)

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Abstract

We propose an econometric framework to construct projections for per capita income growth and human capital for European regions. Using Bayesian methods, our approach accounts for model uncertainty in terms of the choice of explanatory variables, the nature of spatial spillovers, as well as the potential endogeneity between output growth and human capital accumulation. This method allows us to assess the potential contribution of future educational attainment to economic growth and income convergence among European regions over the next decades. Our findings suggest that income convergence dynamics and human capital act as important drivers of income growth for the decades to come.

Item Type: Article
Research Programs: World Population (POP)
Depositing User: Romeo Molina
Date Deposited: 20 Apr 2017 12:45
Last Modified: 16 May 2017 06:50
URI: http://pure.iiasa.ac.at/14538

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