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Human Capital Accumulation and Long-Term Income Growth Projections for European Regions

Crespo Cuaresma, Jesus and Doppelhofer, Gernot and Huber, Florian and Piribauer, Philipp (2017) Human Capital Accumulation and Long-Term Income Growth Projections for European Regions. Journal of Regional Science. ISSN 1467-9787

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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
Additional Information: Online Version of Record published before inclusion in an issue. This is the peer reviewed version of the following article, which has been published in final form at http://dx.doi.org/10.1111/jors.12339. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.
Divisions: Departments > Volkswirtschaft > Makroökonomie
Forschungsinstitute > Human Capital and Development
Kompetenzzentren > Nachhaltigkeit
Version of the Document: Accepted for Publication
Depositing User: Gertraud Novotny
Date Deposited: 07 Aug 2017 11:18
Last Modified: 08 Aug 2017 20:18
Related URLs:
FIDES Link: https://bach.wu.ac.at/d/research/results/80077/
URI: http://epub.wu.ac.at/id/eprint/5673

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