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Intelligence, Human Capital, and Economic Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach
Garett Jones,W. Joel Schneider +1 more
TLDR
This paper showed that a 1 point increase in a nation's average IQ is associated with a persistent 0.11% annual increase in GDP per capita, even when OECD countries are excluded from the sample.Abstract:
Human capital plays an important role in the theory of economic growth, but it has been difficult to measure this abstract concept. We survey the psychological literature on cross-cultural IQ tests, and conclude that modern intelligence tests are well-suited for measuring an important form of a nation’s human capital. Using a new database compiled by Lynn and Vanhanen (2002) along with a Bayesian methodology derived from Sala-i-Martin, Doppelhofer, and Miller (AER, 2004), we show that national average IQ has a robust positive relationship with economic growth. In growth regressions that include only robust control variables, IQ is statistically significant in 99.8% of these 1330 regressions, and the IQ coefficient is always positive. A strong relationship persists even when OECD countries are excluded from the sample. A 1 point increase in a nation’s average IQ is associated with a persistent 0.11% annual increase in GDP per capita.read more
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Human cognitive abilities: A survey of factor analytic studies
TL;DR: A survey of factor analytic studies of human cognitive abilities can be found in this paper, with a focus on the role of factor analysis in human cognitive ability evaluation and cognition. But this survey is limited.
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Are smarter groups more cooperative? Evidence from prisoner's dilemma experiments, 1959–2003
TL;DR: A meta-study of repeated prisoner's dilemma experiments run at numerous universities suggests that students cooperate 5-8% more often for every 100-point increase in the school's average SAT score.
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National IQs: A Review of Their Educational, Cognitive, Economic, Political, Demographic, Sociological, Epidemiological, Geographic and Climatic Correlates.
Richard Lynn,Tatu Vanhanen +1 more
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Precocious Albion: A New Interpretation of the British Industrial Revolution
TL;DR: This article found that in terms of both physical quality and mechanical skills, British workers around 1750 were at a much higher level than their continental counterparts, and the gap in labor quality is consistent with the higher wages paid in eighteenth-century Britain.
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Why has China Grown So Fast? The Role of Physical and Human Capital Formation*
Sai Ding,John Knight +1 more
TL;DR: In this article, the authors address the problem of model uncertainty by adopting two approaches to model selection to consider a wide range of candidate predictors of growth, and examine the growth impact of physical and human capital using panel data techniques.
References
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Estimating the Dimension of a Model
TL;DR: In this paper, the problem of selecting one of a number of models of different dimensions is treated by finding its Bayes solution, and evaluating the leading terms of its asymptotic expansion.
Estimating the dimension of a model
TL;DR: In this paper, the problem of selecting one of a number of models of different dimensions is treated by finding its Bayes solution, and evaluating the leading terms of its asymptotic expansion.
Journal ArticleDOI
A Contribution to the Empirics of Economic Growth
TL;DR: The authors examined whether the Solow growth model is consistent with the international variation in the standard of living, and they showed that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data.
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A sensitivity analysis of cross-country growth regressions
Robert A. Levine,David Renelt +1 more
TL;DR: In this article, the authors study whether the conclusions from existing studies are robust or fragile when small changes in the list of independent variables occur, and they find that although "policy"appears to be importantly related to growth, there is no strong independent relationship between growth and almost every existing policy indicator.
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I Just Ran Two Million Regressions
TL;DR: In this article, instead of analyzing the extreme bounds of the estimates of the coefficient of a particular variable, the authors analyze the entire distribution and find that a substantial number of variables can be found to be strongly related to growth.