Intelligence, Human Capital, and Economic Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach
Human capital plays an important role in the theory of economic growth, but it has been difficult to measure this abstract concept. We survey the psychological literature on cross-cultural IQ tests and conclude that intelligence tests provide one useful measure of human capital. Using a new database...
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| Veröffentlicht in: | Journal of economic growth (Boston, Mass.) Mass.), 2006-03, Vol.11 (1), p.71-93 |
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| container_end_page | 93 |
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| container_title | Journal of economic growth (Boston, Mass.) |
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| creator | Jones, Garett Schneider, W. Joel |
| description | Human capital plays an important role in the theory of economic growth, but it has been difficult to measure this abstract concept. We survey the psychological literature on cross-cultural IQ tests and conclude that intelligence tests provide one useful measure of human capital. Using a new database of national average IQ, we show that in growth regressions that include only robust control variables, IQ is statistically significant in 99.8% of these 1330 regressions, easily passing a Bayesian model-averaging robustness test. A 1 point increase in a nation's average IQ is associated with a persistent 0.11% annual increase in GDP per capita. |
| doi_str_mv | 10.1007/s10887-006-7407-2 |
| format | Article |
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| identifier | ISSN: 1381-4338 |
| ispartof | Journal of economic growth (Boston, Mass.), 2006-03, Vol.11 (1), p.71-93 |
| issn | 1381-4338 1573-7020 |
| language | eng |
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| source | Business Source Complete; SpringerNature Journals; JSTOR Archive Collection A-Z Listing |
| subjects | Bayesian analysis Bayesian method Bias Econometrics Economic growth Economic growth models Economic theory Economists Education Elementary schools Estimation GDP Gross Domestic Product Growth models Growth theory Human capital Intelligence Intelligence quotient Intelligence tests Job performance Linear regression Psychological aspects Robust control School enrollment Socioeconomic factors Statistical significance Studies Validity Variables |
| title | Intelligence, Human Capital, and Economic Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach |
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