Knowledge and Development: A Cross-Section Approach
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World Bank, Washington, D.C.
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This paper assesses the effects of
knowledge on economic growth. By using an array of
indicators, each of which represents an aspect of knowledge,
as independent variables in cross-section regressions that
span 92 countries for the period 1960 to 2000, they show
that knowledge is a significant determinant of long-term
economic growth. In particular, the authors find that the
stock of human capital, the level of domestic innovation and
technological adaptation, and the level of information and
communications technologies (ICT) infrastructure all exert
statistically significant positive effects on long-term
economic growth. More specifically with regard to the growth
effects of the human capital stock, they find that an
increase of 20 percent in the average years of schooling of
a population tends to increase the average annual economic
growth by 0.15 percentage point. In terms of innovation, the
authors find that a 20 percent increase in the annual number
of USPTO patents granted is associated with an increase of
3.8 percentage points in annual economic growth. Lastly,
when the ICT infrastructure, measured by the number of
telephones per 1,000 persons, is increased by 20 percent,
they find that annual economic growth tends to increase by
0.11 percentage point.
Palabras clave
ADAPTATION, AGED, AGGREGATE OUTPUT, AGGREGATE PRODUCTION FUNCTION, AGRICULTURE, BASIC EDUCATION, BUDGET DEFICITS, CAPITAL ACCUMULATION, CAPITAL INFLOWS, CAPITAL INVESTMENT, CAPITAL STOCK, COMPARATIVE ADVANTAGE, COMPETITIVENESS, CONSTANT RETURNS, CONSTANT RETURNS TO SCALE, CONSUMERS, CONTRIBUTION OF KNOWLEDGE, COUNTRY SPECIFIC, DATA SETS, DEPENDENT VARIABLE, DEVELOPED COUNTRIES, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPMENT PROCESSES, DIMINISHING RETURNS, ECONOMIC AGENTS, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC RESEARCH, ECONOMIC THEORY, ECONOMICS, EDUCATION LEVEL, EDUCATION SYSTEMS, EDUCATIONAL ATTAINMENT, ELASTICITY, EMPIRICAL EVIDENCE, ESTIMATED COEFFICIENT, EXCHANGE RATE, FACTOR ACCUMULATION, FACTORS OF PRODUCTION, FOREIGN DIRECT INVESTMENT, FOSTER COMPETITION, GLOBAL ECONOMY, GLOBAL SUPPLY, GOVERNMENT EXPENDITURES, GROSS INVESTMENT, GROWTH RATE, GROWTH RATES, GROWTH THEORY, HOLISTIC APPROACH, HUMAN CAPITAL, IMPORTS, INCREASES IN OUTPUT, INCREASING RETURNS, INDEPENDENT VARIABLES, INDUSTRIAL ECONOMIES, INDUSTRIALIZED COUNTRIES, INFLATION, INTERNATIONAL COMPARISONS, INTERNATIONAL TRADE, KNOWLEDGE ECONOMY, LABOR FORCE, LABOR MARKET, LABOR PRODUCTIVITY, LEVEL OF OUTPUT, LEVEL OF TECHNOLOGY, LONG-RUN GROWTH, LOW-INCOME COUNTRIES, MEDIA, MONETARY ECONOMICS, MOTIVATION, OUTPUT PER CAPITA, PARENTS, PATENTS, PER CAPITA INCOME, POLICY RESEARCH, POLITICAL ECONOMY, POSITIVE EFFECTS, PRIMARY EDUCATION, PRODUCTION FUNCTION, PRODUCTION PROCESSES, PROPERTY RIGHTS, PUBLIC POLICY, RADIO, RATE OF RETURN, REAL GDP, RESEARCH CENTERS, SCHOOLS, SERVICE INDUSTRIES, SIGNIFICANT IMPACT, SUSTAINABLE DEVELOPMENT, TECHNICAL KNOWLEDGE, TECHNICAL PROGRESS, TECHNOLOGICAL INNOVATION, TERTIARY EDUCATION, TFP, TOTAL FACTOR PRODUCTIVITY, TOTAL FACTOR PRODUCTIVITY GROWTH, TRANSACTION COSTS, TRANSACTIONS COSTS KNOWLEDGE, ECONOMIC GROWTH, INFORMATION, COMMUNICATION, HUMAN CAPITAL, PATENTS, EDUCATION & ECONOMIC DEVELOPMENT, MACROECONOMIC GROWTH