Openness appears to have a strong impact on economic growth especially in DCs, which typically exhibit a high share of physical capital in factor income and a low share of labor. In the neoclassical growth model with partial capital mobility, physical capital?s share in factor income determines...

We try to identify which economic factors might be responsible for the large international differences in student performance. We present time series evidence for a number of European countries which suggests that rising educational expenditures obviously did not improve student performance....

We suggest a new way to quantify the growth effects of capital mobility. We find that for reasonable parameter values, capital mobility has a large impact on income growth.

The role of human capital has so far not been well documented at the macroeconomic level. Many empirical studies lack a consistent theoretical foundation and there are measurement problems due to a very narrow concept of human capital focusing on formal education. Future empirical research...

We estimate changes in the productivity of schooling for six East Asian countries. Our productivity measure is based on changes in the relative price of schooling. A rising price of schooling relative to other labor-intensive service sectors should indicate declining relative schooling...