Panel Data Evidence on the Role of Education in the Growth-Volatility Relationship

No 12/04, Discussion Papers in Economics from Division of Economics, School of Business, University of Leicester

Abstract: The investigation of the growth-volatility link is an important one in empirical macroeconomics. There is no empirical evidence supporting the predictions of recent theoretical models that incorporate and explicitly recognize the role of human capital in this link. Using a panel data, we show empirically how the detrimental effect of output volatility on growth is diluted by education. We provide robustness checks and policy implications of our finding.

Keywords: Growth; volatility; education; dynamic system (GMM). (search for similar items in EconPapers)
JEL-codes: E32 F43 O40 O49 (search for similar items in EconPapers)
Date: 2012-03
New Economics Papers: this item is included in nep-edu, nep-lab and nep-mac
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