Investment, Human Capital and Institutions: A Multi-equational Approach for the Study of Economic Growth, 1985-2000
This paper looks at the growth of a varied sample of countries during the period 1985-2000, focusing on three key variables: investment in physical capital, human capital and institutions. The analysis pays special attention to the process of the accumulation of these variables and their interrelationships. The results show that empirical research on growth should highlight the aspects of the accumulation and interrelationships of factors through the use of systems of equations such as that proposed in this study.
growth, human capital, investment, institutions, models of simultaneous equations.
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