Estudios en Economía y Empresa (GEE)

URI permanente para esta comunidad

https://hdl.handle.net/10784/7504

Sustenta su trabajo en el análisis económico usando novedosas técnicas cuantitativas y cualitativas, y un profundo conocimiento sectorial para identificar acertadamente las necesidades de las grandes empresas e instituciones públicas.

Líneas de investigación: Análisis Macroeconómico; Organización Industrial y Regulación Económica; Políticas Públicas.
Código Minciencias: COL0008343.
Categoría 2019: A1.
Escuela: Economía y Finanzas.
Departamento académico: Economía.
Coordinador: Santiago Tobón Zapata.
Correo electrónico: stobonz@eafit.edu.co

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Mostrando 1 - 9 de 9

Can Institutions or Education Explain World Poverty? An Augmented Solow Model Provides Some Insights
(Elsevier, 2004) Breton, Theodore R.; Universidad EAFIT, Departamento de Economía y Finanzas, Medellín, Colombia.; Escuela de Economía y Finanzas; Economía; Estudios en Economía y Empresa
When the Solow model is augmented with variables for institutions and human capital and estimated with national data for rates of investment in education, it can explain most of the variation in cross-country standards of living. The empirical results indicate that human capital is as important as physical capital in the determination of national income and that a high government share of consumption substantially reduces total factor productivity (TFP) and national income. The results also indicate that government integrity is endogenous in the development process and has an uncertain effect on total factor productivity.
Does Investment in Schooling Raise National Income? Evidence from Cross-Country Studies
(Universidad EAFIT, 2011) Breton, Theodore R.; Universidad EAFIT, Escuela de Economía y Finanzas, Departamento de Economía, Medellín, Colombia.; Escuela de Economía y Finanzas; Economía; Estudios en Economía y Empresa
The economics literature identifies three effects of schooling on national income; the direct effect on the earnings of the workers who receive the schooling and the external effects on workers’ earnings and on physical capital due to schooling’s spillover effect on the productivity of these other factors of production. This paper reviews the estimates of the income elasticity of these three effects in the literature and finds that the evidence supports an elasticity of 0.34. The associated marginal rates of return on national investment in schooling in 2000 are found to average about 12 percent in countries with high levels of schooling and about 25 percent in countries with low levels of schooling.
Penn World Table 7.0: Are the data flawed?
(Elsevier, 2013) Breton, Theodore R.; Departamento de Economía, Universidad EAFIT, Colombia; Escuela de Economía y Finanzas; Economía; Estudios en Economía y Empresa
PWT 7.0 data deviate substantially from PWT 6.3 data because the benchmarked prices for 1970 to 1996 used in PWT 6.3 were entirely discarded. PWT 7.0 data are unreliable and appear to be much less accurate than PWT 6.3 data.
The Quality vs. the Quantity of Schooling: What Drives Economic Growth?
(Elsevier, 2011) Breton, Theodore R.; Universidad EAFIT, Departamento de Economía y Finanzas, Medellín, Colombia.; Escuela de Economía y Finanzas; Economía; Estudios en Economía y Empresa
This paper challenges Hanushek and Woessmann's (2008) contention that the quality and not the quantity of schooling determines a nation's rate of economic growth. I first show that their statistical analysis is flawed. I then show that when a nation's average test scores and average schooling attainment are included in a national income model, both measures explain income differences, but schooling attainment has greater statistical significance. The high correlation between a nation's average schooling attainment, cumulative investment in schooling, and average tests scores indicates that average schooling attainment implicitly measures the quality as well as the quantity of schooling.
The role of education in economic growth: theory, history and current returns
(Taylor & Francis Group, 2013) Breton, Theodore R.; Departamento de Economía, Universidad EAFIT, Colombia; Escuela de Economía y Finanzas; Economía; Estudios en Economía y Empresa
The paper examines the role of education in economic growth from a theoretical and historic perspective, addresses why education has been the limiting factor determining growth, discusses why certain countries have provided education to the masses and others have not, provides estimates of the quantitative importance of the direct and the indirect effects of education on the economy, calculates the marginal national return on investment for 60 countries, and examines the implications of these results for government policy.
Schooling and National Income: How Large Are the Externalities?
(Routledge, 2010) Breton, Theodore R.; Universidad EAFIT, Escuela de Economía y Finanzas, Departamento de Economía, Medellín, Colombia.; Escuela de Economía y Finanzas; Economía; Estudios en Economía y Empresa
This paper uses a new data‐set for cumulative national investment in formal schooling and a new instrument for schooling to estimate the national return on investment in 61 countries. These estimates are combined with data on the private rate of return on investment in schooling to estimate the external rate of return. In 1990 the external rate of return ranged from 10% in high‐income countries to over 50% in the lowest‐income countries. The external benefits of schooling are about equal to the private benefits in high‐income countries and three times the private benefits in the lowest‐income countries.
Schooling and National Income: How Large Are the Externalities? Corrected Estimates
(Routledge, 2010) Breton, Theodore R.; Universidad EAFIT, Escuela de Economía y Finanzas, Departamento de Economía, Medellín, Colombia.; Escuela de Economía y Finanzas; Economía; Estudios en Economía y Empresa
Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income.
(Cambridge University, 2013-07) Breton, Theodore R.; Departamento de Economía, Universidad EAFIT, Colombia; Escuela de Economía y Finanzas; Economía; Estudios en Economía y Empresa
In Mankiw, Romer, and Weil's augmented Solow model [Quarterly Journal of Economics 107 (2) 407–437 (1992)], the marginal product of human capital accrues to three factors of production: directly to human capital, and as an external effect to physical capital and labor. This paper estimates national stocks of human capital in 1990 created from prior investment in schooling and shows that for 36 countries the (macro) marginal product of human capital accruing to workers in 1990 is consistent with estimates of the (micro) marginal return on investment in schooling in workers' earnings studies. This reconciliation provides empirical evidence for the augmented Solow model.
World total factor productivity growth and the steady-state rate in the 20th century
(Elsevier, 2013-03) Breton, Theodore R.; Departamento de Economía, Universidad EAFIT, Colombia; Escuela de Economía y Finanzas; Economía; Estudios en Economía y Empresa
I estimate a Solow model augmented with human capital in 42 countries for 1910–2000. Estimated TFP growth is 0.3%/year, and the steady-state rate for GDP/capita is 1.0%/year. Implicitly for high-income countries maintaining growth above this rate will be increasingly difficult.

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Examinando Estudios en Economía y Empresa (GEE) por Autor "Breton, Theodore R."

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