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  • This study examines a crucial assumption in much of the recent work on endogenous growth, namely, constant returns to scale in the production of human capital. A simple model is constructed to show that the returns to scale in human capital production can be inferred from the relationship between the wage rate and years of schooling. A large international micro dataset is used to estimate this relationship. The empirical evidence is decisive. There are decreasing returns to scale in human capital production; that is, the micro-level evidence is not supportive of endogenous growth driven by human capital accumulation. (xsd:string)
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  • http://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/2008/twerp555.pdf. (ISSP) (xsd:string)
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  • 2000 (xsd:gyear)
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  • 2000 (xsd:gyear)
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  • 30 (xsd:string)
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  • 555 (xsd:string)
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  • Micro Evidence on Human Capital as the Engine of Growth (xsd:string)
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  • techreport (xsd:string)
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  • (555), 30, 2000 (xsd:string)
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  • International Social Survey Programme (ISSP) (xsd:string)
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  • 2000 (xsd:string)
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  • 30 (xsd:string)
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