Human Capital in a global and knowledge-based economy, part II: assessment at the EU country level

• Authors: Angel de la Fuente.
• BSE Working Paper: 112283 | September 15
• Keywords: human capital , growth , returns to schooling
• JEL codes: O40, I21, I28
• human capital
• growth
• returns to schooling

This report is an extension and partial update of de la Fuente and Ciccone (2002). It constructs estimates of the private and social rates of return on schooling for fourteen EU countries using microeconometric estimates of Mincerian wage equations, the results of crosscountry growth regressions and OECD data on educational expenditures, tax rates and social benefits. The results are used to draw some tentative conclusions regarding the optimality of observed investment patterns and educational subsidy levels.