Document Type

Discussion Paper

Publication Date

1-16-2026

CFDP Number

2485

CFDP Pages

97

Abstract

Human capital is central to efforts to promote growth, convergence, and the elimination of poverty. Drawing on seminal macroeconomic frameworks by Nelson-Phelps, Lucas, and subsequent developments, alongside macro and microeconomic evidence, the chapter examines the role of human capital in driving innovation and growth, emphasizing how different types of human capital matter at different stages of development, and discussing obstacles to accumulation and evidence from policy interventions.

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