Uma análise do capital humano sobre o nível de renda dos estados brasileiros: MRW versus Mincer
DOI:
https://doi.org/10.1590/S0101-41612010000100006Keywords:
human capital, economic growth, mincerian production function, return of educationAbstract
Human capital, productivity and physical capital are considered the main factors in the economies' GDP per capita determination. According to the neoclassical approach, human capital accumulation explains about a third of the variation in per capita income across countries. However, there is no consensus on the ways in which human capital influences GDP per capita. The present study's goal is to compare two production functions functional forms for the Brazilian States: the one developed by Solow (1956) and the one developed by Mincer (1974). The marginal return of education also has been estimated and we have analyzed the relevance of human capital on GDP per capita determination through a variety of estimation methods, for the 1980-2002 period. The empirical results rejected the neoclassical specification with human capital in favor of the mincerian's specification. The estimated marginal return of education is 15% and the empirical findings support the theory that states that human capital is one of the main factors affecting income level.
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References
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FERREIRA, P. C.; ISSLER, J. V.; PESSÔA, S. A. Testing production functions used in empirical growth studies. Economics Letters, v. 88, issue 1, p. 29-35, April 2004.
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HALL, R. E.; JONES, C. I. Why do some countries produce so much more output per worker than others? The Quarterly Journal of Economics, 114, p. 83-116, 1999.
HANSEN, L. Large sample properties of generalized method of moments estimators. Econometrica, v. 50, n. 3, p. 1029-1054, 1982.
HAUSMAN, J.A. Specification tests in econometrics. Econometrica, v. 46, n. 6, p. 1251-1271, Nov. 1978,
HAUSMAN, J.A. Specification and estimation of simultaneous equation models. In: Griliches, Zvi; Intriligator , M. D. (Ed.). Handbook of econometrics. Amsterdam: North Holland, 1983. v. 1.
ISLAM, N. Growth empirics: a panel data approach. The Quarterly Journal of Economics, v. 110, n. 4, p. 1127-1170, 1995.
INSTITUTO DE PESQUISA ECONÔMICA APLICADA. Disponível em: <http://www.ipea.gov.br>. Acesso em: 30 maio 2007.
JAVORCIK, B. S. Does foreign direct investment increase the productivity of domestic firms? In search of spillovers through backward linkages. American Economic Review, v. 94, n. 3, p. 605-627, 2004.
KELLER, W. How trade patterns and technology flows affect productivity growth.
Cambridge, MA.: National Bureau of Economic Research, 1999. 55p. (Working paper n. 6990)
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NBER macroeconomics annual 1997. Cambridge, MA: MIT press, 1997, p. 83-103.
KRUEGER, A. B.; LINDAHL. Education for growth: why and for whom? Journal of Economic Literature, v. 39, n. 4, p. 1101-1136, 2001.
KYRIACOU, G. Level and growth effects of human capital. C. V. Starr Center for Applied Economics, New York University, 1991. (Working Paper n. 91-26).
LAU, L. J.; JAMISON, D. T.; LIU, S. C.; RIVKIN, S. Education and economic growth: some cross-country evidence from Brazil. Journal of Development Economics, v. 41, n. 1, p. 45-70, June 1993.
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145p. Tese (Doutorado) – Centro de Desenvolvimento e Planejamento Regional
(CEDEPLAR), Universidade Federal de Minas Gerais (UFMG).
NAKABASHI, L.; SALVATO, M. A. Human capital quality in the Brazilian states. Revista Economia, May / Aug. 2007.
NAKABASHI, L.; FIGUEIREDO, L. Mensurando os impactos diretos e indiretos do capital humano sobre o crescimento. Economia Aplicada, v. 12, n. 1, p.151-171, 2008.
NELSON, R. R.; PHELPS, E. S. Investment in humans, technological diffusion, and economic growth. The American Economic Review, v. 56, n. 2, p. 69-75, 1966.
PORTUGAL, M. S.; SOUZA, N.J . Fatores de crescimento da região Sul, 1960/1995. Economia Aplicada, v. 3, n. 4, p. 577-613, 1999.
PRITCHETT, L. Where has all the education gone? The World Bank Economic Review, v. 15, n. 3, p. 367-391, 2001.
ROMER, P. Endogenous technological change. The Journal of Political Economy, v. 98, n. 5, p. 71-102, 1990a.
ROMER, P. Human capital and growth: theory and evidence. Carnegie-Rochester Conference Series on Public Policy, n.32, p.251-286, 1990b.
ROMER, P. Idea gaps and object gaps in economic development. Journal of Monetary
Economics, v. 32, n. 3, p. 543-573, 1993.
ROODMAN, D. How to do xtabond2: an introduction to “difference” and “system” GMM in Stata. Center for Global Development, Washington, 2006. (Working Paper 103).
SACHS, J. D.; WARNER, A. M. Fundamental sources of long-run growth. The American Economic Review, v. 87, n. 2, p. 184-188, 1997.
SCHULTZ, T. W. Reflections on investment in man. The Journal of Political Economy, v. 70, n. 5, p. 1-8, 1962.
SOLOW, R. M. A contribution to the theory of economic growth. The Quarterly Journal of Economics, v. 70, n. 1, p. 65-94, 1956.
SWAN, T. W. Economic growth and capital accumulation. The Economic Record, p. 334-361, 1956.
TEMPLE, J. R. W. A positive effect of human capital on growth. Economic Letters, v. 65, n. 1, p. 131-134, 1999.
TROSTEL, P.A. Returns to scale in producing human capital from schooling. Oxford Economic Papers, 56, p. 461-484, 2004.
XU, B. Multinational enterprises, technology diffusion, and host country productivity growth. Journal of Development Economics, v. 62, n. 2, p. 477-493, Aug. 2000.
AGUIRRE, A. Uma nota sobre a transformação BOX-COX. Belo Horizonte: UFMG/Cedeplar, set. 1997, 18p. (Texto para Discussão, 116).
ANDRADE, M. V. Educação e crescimento econômico no Brasil: evidências para os Estados brasileiros: 1970/1995. In: ENCONTRO NACIONAL DE ECONOMIA, 25, 1997, Recife, PE. Anais… São Paulo: ANPEC, 1997. p. 1529-1548.
ARELLANO, M.; BOND, S. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies, v. 58, n. 2, p. 277-297, April 1991.
ARELLANO, M.; BOVER, O. Another look at the instrumental variable estimation of error-components models. Journal of Econometrics, v. 68, n. 1, p. 29-51, July 1995.
ARELLANO, M.; HONORE, B. Panel data models: some recent developments. CEMFI, 2000. (Working Paper n. 0016).
AZZONI, C. R. Economic growth and regional income inequality in Brazil. The Annals of Regional Science, v. 35, n. 1, p. 133-152, 2001.
AZZONI, C. R.; MENEZES-FILHO, N.; MENEZES; T., SILVEIRA NETO, R. Geography and regional convergence of income in Brazilian states: 1981-1996. Vienna, Austria: European Regional Science Association, 1999. 23p, p. 196. (ERSA Conference Papers, 99)
BARRO, R.; LEE, J. International Comparison of Educational Attainment. Journal of Monetary Economics, v. 32, n. 3, p. 363-394, 2003.
BARRO, R.; SALA-I-MARTIN, X. Economic growth. McGraw-Hill, 1995.
BENHABIB, J.; SPIEGEL, M. M. Human capital and technology diffusion. New York, NY Federal Reserve Bank of San Francisco, 2002. (Working Paper; 2003-02) Disponível em: <http://www.frbsf.org/publications/economics/papers/2003/wp03-02bk.pdf>.
BENHABIB, J.; SPIEGEL, M. M. The role of human capital in economic development: evidence from aggregate
cross-country data. Journal of Monetary Economics, v. 34, n. 2, p. 143-173, 1994.
BILS, M.; KLENOW, P.J. Does schooling cause growth? American Economic Review, v. 90, n. 5, p. 1160-1183, Dec. 2000.
BLUNDELL, R.; BOND, S. Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, v. 87, p. 115-143, 1998.
BONDE, S. Dynamic panel data models: A guide to micro data methods and practice. London, Institute for Fiscal Studies, 2002. (Working Paper 09/02).
BONELLI, R. Crescimento, desigualdade e educação: notas para uma resenha com referência ao Brasil. Economia Aplicada, v. 6, n. 4, p. 819-873, 2002.
BORENSZTEIN, E.; DE GREGORIO, J.; LEE, J. W. How does foreign direct investment
affect economic growth. Journal of International Economics, v. 45,
n. 1, p. 115-135, 1998.
COE, D. T.; HELPMAN, E. International R&D spillovers. European Economic Review,
v. 39, n. 5, p. 859-887, 1995.
COE, D. T.; HELPMAN, E.; HOFFMAISTER, A. W. North-South R&D spillovers. Economic Journal, v.
107, n. 440, p. 134-149, 1997.
CONNOLLY, M. P. The dual nature of trade: measuring its impact on imitation and growth. Journal of Development Economics, v.72, n.1, p.31-55, 2003.
CRAVO, T. A. A importância do capital humano e inovação na convergência real entre países e entre os estados do Brasil. Jan., 2006. 103f. Dissertação (Mestrado em Economia) - Universidade de Coimbra, Portugal.
DAVIDSON, R.; MACKINNON, J. G. Estimation and inference in econometrics. New York: Oxford University Press, 1993.
DIAS, J.; DIAS, M. H. A. Crescimento econômico e as políticas de distribuição de renda e investimento em educação nos estados brasileiros: teoria e análise econométrica. Estudos Econômicos, v. 37, n. 4, p. 701-743, 2007.
DIAS, J.; DIAS, M. H. A; LIMA, F. F. Os efeitos da política educacional no crescimento econômico:
teoria e estimativas dinâmicas em painel de dados. Revista de Economia Política, v. 29, n. 3, 2009.
DURLAUF, S. N.; JOHNSON, P. A.; TEMPLE, J. R. W. Growth econometrics. University of Winsconsin, Oct. 2004. (Working Paper, n. 61).
EASTERLY, W.; LEVINE, R. What have we learned from a decade of empirical research on growth? It’s not factor accumulation: stylized facts and growth models.
The World Bank Economic Review, v. 15, n. 2, p. 177-219, 2001.
FERREIRA, A. H. Convergence in Brazil: recent trends and long-run prospects. Applied Economics, v. 32, n. 4, p. 479-489, Mar. 2000.
FERREIRA, A. H. A distribuição interestadual da renda no Brasil, 1950-85. Revista Brasileira de Economia, v.5 0, n. 4, p. 469-485, 1996.
FERREIRA, P. C.; ISSLER, J. V.; PESSÔA, S. A. Testing production functions used in empirical growth studies. Economics Letters, v. 88, issue 1, p. 29-35, April 2004.
FIGUEIRÊDO, L.; GARCIA, R. A. Impactos de diferentes metodologias para o cálculo da taxa líquida de migração sobre o estudo do crescimento econômico e da distribuição da população dos Estados brasileiros. In: Encontro Transdisciplinar Espa ço e Popula ção. Campinas, SP: ABEP/NEPO, 2003.
GREENE, W.H. Econometric analysis. 4th ed. New Jersey: Prentice-Hall, 2001. 1075p.
HALL, R. E.; JONES, C. I. Why do some countries produce so much more output per worker than others? The Quarterly Journal of Economics, 114, p. 83-116, 1999.
HANSEN, L. Large sample properties of generalized method of moments estimators. Econometrica, v. 50, n. 3, p. 1029-1054, 1982.
HAUSMAN, J.A. Specification tests in econometrics. Econometrica, v. 46, n. 6, p. 1251-1271, Nov. 1978,
HAUSMAN, J.A. Specification and estimation of simultaneous equation models. In: Griliches, Zvi; Intriligator , M. D. (Ed.). Handbook of econometrics. Amsterdam: North Holland, 1983. v. 1.
ISLAM, N. Growth empirics: a panel data approach. The Quarterly Journal of Economics, v. 110, n. 4, p. 1127-1170, 1995.
INSTITUTO DE PESQUISA ECONÔMICA APLICADA. Disponível em: <http://www.ipea.gov.br>. Acesso em: 30 maio 2007.
JAVORCIK, B. S. Does foreign direct investment increase the productivity of domestic firms? In search of spillovers through backward linkages. American Economic Review, v. 94, n. 3, p. 605-627, 2004.
KELLER, W. How trade patterns and technology flows affect productivity growth.
Cambridge, MA.: National Bureau of Economic Research, 1999. 55p. (Working paper n. 6990)
KLENOW, P.J.; RODRÍGUEZ-CLARE, A. The neoclassical revival in growth economics: has it gone too far? In: BERNANKE, B. S.; ROTEMBERG, J. J. (Ed.).
NBER macroeconomics annual 1997. Cambridge, MA: MIT press, 1997, p. 83-103.
KRUEGER, A. B.; LINDAHL. Education for growth: why and for whom? Journal of Economic Literature, v. 39, n. 4, p. 1101-1136, 2001.
KYRIACOU, G. Level and growth effects of human capital. C. V. Starr Center for Applied Economics, New York University, 1991. (Working Paper n. 91-26).
LAU, L. J.; JAMISON, D. T.; LIU, S. C.; RIVKIN, S. Education and economic growth: some cross-country evidence from Brazil. Journal of Development Economics, v. 41, n. 1, p. 45-70, June 1993.
LUCAS, R. E. Jr. On the mechanics of economic development. Journal of Monetary Economics, v. 22, n. 1, p. 3-42, 1988.
MANKIW, N. G.; ROMER, D.; WEIL, D. A contribution to the empirics of economic growth. The Quarterly Journal of Economics, v. 107, n. 2, p. 407- 437, 1992.
MINCER, J. Schooling, experience, and earnings. New York: Columbia University Press, 1974.
NAKABASHI, L. Três ensaios sobre capital humano e renda por trabalhador. 2005.
145p. Tese (Doutorado) – Centro de Desenvolvimento e Planejamento Regional
(CEDEPLAR), Universidade Federal de Minas Gerais (UFMG).
NAKABASHI, L.; SALVATO, M. A. Human capital quality in the Brazilian states. Revista Economia, May / Aug. 2007.
NAKABASHI, L.; FIGUEIREDO, L. Mensurando os impactos diretos e indiretos do capital humano sobre o crescimento. Economia Aplicada, v. 12, n. 1, p.151-171, 2008.
NELSON, R. R.; PHELPS, E. S. Investment in humans, technological diffusion, and economic growth. The American Economic Review, v. 56, n. 2, p. 69-75, 1966.
PORTUGAL, M. S.; SOUZA, N.J . Fatores de crescimento da região Sul, 1960/1995. Economia Aplicada, v. 3, n. 4, p. 577-613, 1999.
PRITCHETT, L. Where has all the education gone? The World Bank Economic Review, v. 15, n. 3, p. 367-391, 2001.
ROMER, P. Endogenous technological change. The Journal of Political Economy, v. 98, n. 5, p. 71-102, 1990a.
ROMER, P. Human capital and growth: theory and evidence. Carnegie-Rochester Conference Series on Public Policy, n.32, p.251-286, 1990b.
ROMER, P. Idea gaps and object gaps in economic development. Journal of Monetary
Economics, v. 32, n. 3, p. 543-573, 1993.
ROODMAN, D. How to do xtabond2: an introduction to “difference” and “system” GMM in Stata. Center for Global Development, Washington, 2006. (Working Paper 103).
SACHS, J. D.; WARNER, A. M. Fundamental sources of long-run growth. The American Economic Review, v. 87, n. 2, p. 184-188, 1997.
SCHULTZ, T. W. Reflections on investment in man. The Journal of Political Economy, v. 70, n. 5, p. 1-8, 1962.
SOLOW, R. M. A contribution to the theory of economic growth. The Quarterly Journal of Economics, v. 70, n. 1, p. 65-94, 1956.
SWAN, T. W. Economic growth and capital accumulation. The Economic Record, p. 334-361, 1956.
TEMPLE, J. R. W. A positive effect of human capital on growth. Economic Letters, v. 65, n. 1, p. 131-134, 1999.
TROSTEL, P.A. Returns to scale in producing human capital from schooling. Oxford Economic Papers, 56, p. 461-484, 2004.
XU, B. Multinational enterprises, technology diffusion, and host country productivity growth. Journal of Development Economics, v. 62, n. 2, p. 477-493, Aug. 2000.
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Copyright (c) 2010 Ricardo Corrêa Cangussu, Márcio Antônio Salvato, Luciano Nakabashi
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Cangussu, R. C., Salvato, M. A., & Nakabashi, L. (2010). Uma análise do capital humano sobre o nível de renda dos estados brasileiros: MRW versus Mincer. Estudos Econômicos (São Paulo), 40(1), 153-183. https://doi.org/10.1590/S0101-41612010000100006
