The geography and determinants of regional human capital in eight Latin American and Caribbean countries

Abstract

There is broad consensus concerning the importance of human capital in economic development (Lucas 1988; Barro 1992). Human capital accumulation stimulates economic growth and development through direct and indirect transmission channels (Lucas 1988; Mathur 1999). A large endowment of highly educated individuals in a region plays a key role in local economic performance, accelerating the rate of technological change, innovations, diffusion inventions and emergence of entrepreneurs (Mathur 1999; Desrochers and Leppäla 2011). Spatial concentration of human capital also promotes knowledge spill overs, enhancing the linkages between new ideas, technology and economic development (Jacobs 1969).