In this paper, we introduce a new variable called Human Assets and study its effects on economic growth both theoretically and empirically. The first part builds an endogenous growth model which demonstrates that Human Assets increase economic growth. The second part employs the new Dynamic...

This paper analyses the problem of measuring the output of the education sector. It uses a combination of the index number approach with the education return methods. This allows us to take into account not only the number of students but also the labour outcomes corresponding to each type of...

This article analyzes the relation between GDP per capita (CPIBpc) and access to tertiary education, seen from the perspective of growth rate of the number of enrollments (TCMes) in higher education in Colombia for the period (1971-2016). By using a VEC model and assuming everything else...

This paper analyses inclusive growth that focuses on the creation of opportunities for all. Inclusive growth allows people to contribute to and benefit from economic growth, while pro-poor growth approaches focusing on welfare of the poor only to reduce inequality. Recently, economics literature...

Empirical literature has long conjectured that institutional arrangements, proxied by democracy, social capital and intelligence, are relevant determinants in cross-country differences in economic performance. Related literature, however, predominantly documents that democracy has either a...

The great scientific development and the great technology, which turned the globe as a whole into a small village, were not the product of a moment or a coincidence, and this great development did not come out of a empty, but was thanks to a considerable and difficult effort, and the enormous...

Self-actualization theory suggests that all individuals hold potential, and they can focus their motivations on actualizing this potential only if all basic and psychological needs are satisfied. Contemporary economic literature has reported that national average intelligence (IQ) is the most...

Individuals that reside in the highest social stratum of intelligence (i.e., those that have a high IQ) have been shown to generate relatively more national income and are more innovative, with those that have the lowest levels of IQ being less influential on economic development. However, the...