We estimate the strength of schooling externalities for Spanish provinces over the 1995-2010 period. Our empirical work employs both main approaches available in the literature, the Constant Composition approach and the Mincerian approach. Using data from the Continuous Sample of Working Records and analyzing empirically the effect of human capital stock changes on wages at the provincial level, we find that both methodologies yield significant externalities.

Key words: analysis of education, wage level and structure, aggregate productivity.
JEL Classification: I21, J31, O47.