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Germany Human Capital Japan USA

The contribution of human capital to economic growth. A cross-country comparison of Germany, Japan, and the United States (Martin Neil Baily, Barry P. Bosworth, and Kelly Kennedy, Brookings)

Traditional growth accounting exercises, which adjust for variations in the age, gender, and educational attainment of the workforce, conclude that changes in human capital contribute only modestly to economic growth. Yet, recent studies have argued that improvements in human capital make a more substantial impact through differences in the quality of education and the importance of human capital in the innovation process. In this study, we explore differences in the generation of human capital in Germany, Japan, and the United States.

The contribution of human capital to economic growth (brookings.edu)