Technological and institutional environments, rather than differences in human capital, are behind variations in skill premia across countries

An experiment in Colombia shows that delaying disbursement of conditional cash transfers can have substantial long-term effects on educational investment

The generation and diffusion of scientific knowledge and technology are assumed to be drivers of modern economic growth, but there is a lack of firm empirical evidence of this. This column uses the first detailed data on the density of engineers in the western hemisphere to argue that historical differences in innovative capacity, as captured by the density of engineers in 1880, explain a significant fraction of the Great Divergence. The results confirm the imperative of developing higher-order human capital.