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IMF Staff Papers Logo    Last updated: July 2002
Volume 49, Number 2
Human Capital Convergence:
A Joint Estimation Approach

Randa Sab and Stephen C. Smith

Full Text of this Article (PDF 106K)

Abstract: In the growth literature, evidence on convergence of per capita incomes is mixed. In the development literature, health and education indicators are often used to measure countries' development progress. This study examines whether average stocks of health and education are converging across countries and calculates the speed of their convergence using data from 84 countries for 1970­90. A three-stage least-squares (3SLS) procedure is used in a joint analysis of human capital convergence. The results confirm that investments in education and health are closely linked. The study finds unconditional convergence for life expectancy and infant survival, and for the stock of education as measured
by average levels of total and secondary schooling in the adult population.
[JEL O15, O40, J24, I19]