This paper studies the puzzling lack of correlation between income and schooling in macro regressions. It is argued that the root of the puzzle is threefold. First, there is a problem of a proper defi
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Notes: Values in parentheses are t-values. *** indicates significance at the 1%. Year dummies were included in the estimation, but are excluded from the table. Estimates in Growth Equation.
This paper analyses the policy and institutional determinants of long-run economic growth for a sample of OECD and non-OECD countries, with two objectives. First, it assesses the extent to which the m
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