A Revision to the Theory and the Practice of Development Accounting

Practitioners of development accounting assume that the private return on schooling equals its social marginal product. I show that this assumption is inconsistent with the mathematical structure of a multiplicative production function, which specifies that the private return is only a fraction of t...

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Autores:
Theodore, R. Breton
Tipo de recurso:
Fecha de publicación:
2014
Institución:
Universidad EAFIT
Repositorio:
Repositorio EAFIT
Idioma:
eng
OAI Identifier:
oai:repository.eafit.edu.co:10784/1407
Acceso en línea:
http://hdl.handle.net/10784/1407
Palabra clave:
Development accounting
Human capital
Physical Capital
Productivity
Contabilidad del desarrollo
Capital humano
Capital físico
Productividad
Rights
License
Acceso abierto
id REPOEAFIT2_7dcabfde862eddfdbbd811042f3963e6
oai_identifier_str oai:repository.eafit.edu.co:10784/1407
network_acronym_str REPOEAFIT2
network_name_str Repositorio EAFIT
repository_id_str
dc.title.eng.fl_str_mv A Revision to the Theory and the Practice of Development Accounting
title A Revision to the Theory and the Practice of Development Accounting
spellingShingle A Revision to the Theory and the Practice of Development Accounting
Development accounting
Human capital
Physical Capital
Productivity
Contabilidad del desarrollo
Capital humano
Capital físico
Productividad
title_short A Revision to the Theory and the Practice of Development Accounting
title_full A Revision to the Theory and the Practice of Development Accounting
title_fullStr A Revision to the Theory and the Practice of Development Accounting
title_full_unstemmed A Revision to the Theory and the Practice of Development Accounting
title_sort A Revision to the Theory and the Practice of Development Accounting
dc.creator.fl_str_mv Theodore, R. Breton
dc.contributor.author.none.fl_str_mv Theodore, R. Breton
dc.subject.keyword.eng.fl_str_mv Development accounting
Human capital
Physical Capital
Productivity
topic Development accounting
Human capital
Physical Capital
Productivity
Contabilidad del desarrollo
Capital humano
Capital físico
Productividad
dc.subject.keyword.spa.fl_str_mv Contabilidad del desarrollo
Capital humano
Capital físico
Productividad
description Practitioners of development accounting assume that the private return on schooling equals its social marginal product. I show that this assumption is inconsistent with the mathematical structure of a multiplicative production function, which specifies that the private return is only a fraction of the social marginal product. I then show that the empirical results from development accounting in the literature substantially underestimate human capital’s contribution to national output and overestimate national productivity differences.
publishDate 2014
dc.date.available.none.fl_str_mv 2014-03-19T22:59:22Z
dc.date.issued.none.fl_str_mv 2014-03-16
dc.date.accessioned.none.fl_str_mv 2014-03-19T22:59:22Z
dc.type.eng.fl_str_mv workingPaper
info:eu-repo/semantics/workingPaper
dc.type.coarversion.fl_str_mv http://purl.org/coar/version/c_b1a7d7d4d402bcce
dc.type.coar.fl_str_mv http://purl.org/coar/resource_type/c_8042
dc.type.local.spa.fl_str_mv Documento de trabajo de investigación
dc.type.hasVersion.eng.fl_str_mv draft
dc.identifier.uri.none.fl_str_mv http://hdl.handle.net/10784/1407
dc.identifier.jel.none.fl_str_mv E25
O11
O47
url http://hdl.handle.net/10784/1407
identifier_str_mv E25
O11
O47
dc.language.iso.eng.fl_str_mv eng
language eng
dc.rights.coar.fl_str_mv http://purl.org/coar/access_right/c_abf2
dc.rights.local.spa.fl_str_mv Acceso abierto
rights_invalid_str_mv Acceso abierto
http://purl.org/coar/access_right/c_abf2
dc.coverage.spatial.eng.fl_str_mv Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees
dc.publisher.spa.fl_str_mv Universidad EAFIT
dc.publisher.department.spa.fl_str_mv Escuela de Economía y Finanzas
institution Universidad EAFIT
bitstream.url.fl_str_mv https://repository.eafit.edu.co/bitstreams/240fe8b5-5ae0-49df-bcda-597a591d19cb/download
https://repository.eafit.edu.co/bitstreams/88d13f5b-05aa-403b-835c-6b28b7f30c78/download
bitstream.checksum.fl_str_mv cce7958a019091361f5081ba8c855bf2
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repository.name.fl_str_mv Repositorio Institucional Universidad EAFIT
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spelling Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees2014-03-19T22:59:22Z2014-03-162014-03-19T22:59:22Zhttp://hdl.handle.net/10784/1407E25O11O47Practitioners of development accounting assume that the private return on schooling equals its social marginal product. I show that this assumption is inconsistent with the mathematical structure of a multiplicative production function, which specifies that the private return is only a fraction of the social marginal product. I then show that the empirical results from development accounting in the literature substantially underestimate human capital’s contribution to national output and overestimate national productivity differences.Los profesionales de la contabilidad del desarrollo asumen que el rendimiento privado de la educación es igual a su producto marginal social. Se Muestra que este supuesto es incompatible con la estructura matemática de una función multiplicativa de producción, que especifica que el rendimiento privado es sólo una fracción del producto marginal social. A continuación, se muestra que los resultados empíricos de la contabilidad del desarrollo en la literatura subestiman considerablemente la contribución del capital humano para la producción nacional y sobreestiman las diferencias de productividad nacional.engUniversidad EAFITEscuela de Economía y FinanzasA Revision to the Theory and the Practice of Development AccountingworkingPaperinfo:eu-repo/semantics/workingPaperDocumento de trabajo de investigacióndrafthttp://purl.org/coar/version/c_b1a7d7d4d402bccehttp://purl.org/coar/resource_type/c_8042Acceso abiertohttp://purl.org/coar/access_right/c_abf2Development accountingHuman capitalPhysical CapitalProductivityContabilidad del desarrolloCapital humanoCapital físicoProductividadTheodore, R. Bretontbreton@eafit.edu.coORIGINAL2014_07_Theodore_Breton.pdf2014_07_Theodore_Breton.pdfapplication/pdf1207075https://repository.eafit.edu.co/bitstreams/240fe8b5-5ae0-49df-bcda-597a591d19cb/downloadcce7958a019091361f5081ba8c855bf2MD51LICENSElicense.txtlicense.txttext/plain; charset=utf-81748https://repository.eafit.edu.co/bitstreams/88d13f5b-05aa-403b-835c-6b28b7f30c78/download8a4605be74aa9ea9d79846c1fba20a33MD5210784/1407oai:repository.eafit.edu.co:10784/14072024-03-05 14:06:24.094open.accesshttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.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