We investigate human capital accumulation in Spain using income- and education-based
alternative approaches. We, then, assess human capital impact on labor productivity growth
and discuss the implications of its alternative measures for TFP growth. Trends in hWe investigate human capital accumulation in Spain using income- and education-based
alternative approaches. We, then, assess human capital impact on labor productivity growth
and discuss the implications of its alternative measures for TFP growth. Trends in human
capital are similar with either measure but the skill-premium approach fits better Spanish
historical experience. As education is a high income elastic good, human capital growth
computed with the education-based approach seems upward biased for the recent past.
Human capital provided a positive albeit small contribution to labor productivity growth
facilitating technological innovation[+][-]