Contribution of human capital to economic growth from the education policy point of view – empirical analysis for EU economies

Matjaz Novak, Primoz Dolenc, Igor Stubelj and Mateja Jerman

International Journal of Knowledge-Based Development, 2011, vol. 2, issue 1, 49-65

Abstract: Our research presented in this article is based on the macroeconomics background and addresses the following two questions in case of 27 EU-member states: 1) 'To what extent does education contribute to human capital?'; 2) 'What is the contribution of human capital to economic growth?' The main part of the article is empirical analysis that consists from: 1) the empirical estimates on the amount of human capital for EU27; 2) the empirical estimation about the contribution of human capital to economic growth for EU27; 3) the empirical analysis on relationship between the contribution of human capital to economic growth and the amount of public expenditure on education. We find the 5.14% of GDP as the amount of public spending on education that maximises the contribution of human capital to economic growth.

Keywords: human capital; economic growth; education; public spending: EU; European Union; macroeconomics; public expenditure; GDP; knowledge-based development; education spending; education expenditure. (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=40625 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijkbde:v:2:y:2011:i:1:p:49-65

Access Statistics for this article

More articles in International Journal of Knowledge-Based Development from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().