, misspecifies the relationship between education and the stock of human capital. Based on human capital theory, the specification of … of education. Cross-country differences in quality-adjusted human capital can account for about half the world …

The perpetual inventory method used for the construction of education data per country leads to systematic measurement … error. This paper analyses the effect of this measurement error on GDP regressions. There is a systematic difference in the … the measurement error. The standard attenuation bias suggests that using these corrected data would lead to a higher …