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oai:recercat.cat:2445/175022025-11-20T11:01:19Zcom_2072_1057col_2072_478808col_2072_478917

Does human capital stimulate investment in physical capital?: Evidence from a cost system framework López-Bazo, Enrique Moreno Serrano, Rosina Creixement econòmic Recursos humans Capital Economic growth Human capital Capital The direct effect of human capital on economic growth has been widely analysed in the economic literature. This paper, however, focuses on its indirect effect as a stimulus for private investment in physical capital. The methodological framework used is the duality theory, estimating a cost system aggregated with human capital. Empirical evidence is given for Spain for the period 1980-2000. We provide evidence on the indirect effect of human capital in making private capital investment more attractive. Among the main explanations for this process, we observe that higher worker skill levels enable higher returns to be extracted from investment in physical capital. 2011-04-07T11:17:31Z 2011-04-07T11:17:31Z 2008 info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion 0264-9993 https://hdl.handle.net/2445/17502 563545 eng Versió postprint del document publicat a http://dx.doi.org/10.1016/j.econmod.2008.04.008 Economic Modelling, 2008, vol. 25, núm. 6, p. 1295-1305 http://dx.doi.org/10.1016/j.econmod.2008.04.008 info:eu-repo/grantAgreement/EC/FP7/216813/EU//IAREG (c) Elsevier B.V., 2008 info:eu-repo/semantics/openAccess 23 p. application/pdf application/pdf Elsevier B.V. Articles publicats en revistes (Econometria, Estadística i Economia Aplicada)