The Impact of Human Capital on Growth : Evidence from West Africa

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The Impact of Human Capital on Growth : Evidence from West Africa
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Volume/Issue:
1998/162
Series:
IMF Working Papers
Author(s):
Sonia Brunschwig, Emilio Sacerdoti, and Jon Tang
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
November 1998
DOI:
http://dx.doi.org/10.5089/9781451981148.001
ISBN:
9781451981148
ISSN:
1018-5941
Page:
34
This paper analyzes the impact of human capital on growth, on the basis of refined calculations of human capital, and with a focus on West Africa. Using a growth-accounting methodology, it distinguishes the sources of growth between the accumulation of factors of production and changes in production intensity or efficiency. Private capital is found to be particularly important to growth, but human capital appears not to be significant. The paper also identifies the terms of trade, trade openness, the government deficit, and the share of government investment in total investment as key policy variables affecting growth.
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