Scandinavian Working Papers in Economics

Seminar Papers,
Stockholm University, Institute for International Economic Studies

No 619: Human Capital, Demographics, and Growth across the US States 1920-1990

Joakim Persson and Bo Malmberg
Additional contact information
Joakim Persson: Institute for International Economic Studies, Stockholm University, Postal: Stockholm University, S-106 69 Stockholm, Sweden
Bo Malmberg: Institute for Building Research, Postal: Institute for Building Research, Box 785, S-801 20 Gävle, Sweden.

Abstract: This paper finds robust evidence that age structure matters for subsequent growth in per capita income across the US states 1920-1990. The age groups 25-65 year are positively related to subsequent per capita income growth. Another conclusion is that the average years of schooling affects subsequent per capita income growth positively when age structure is controlled for. Moreover, the estimated speed of convergence (see e.g. Barro and Sala-i-Martin, 1992) increases substantially when schooling and age structure are held constant in the income growth regressions.

Keywords: Demographics; Human capital; Regions; Growth; Convergence

JEL-codes: O18; O47

21 pages, October 30, 1997

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