THE ROLE OF VOCATIONAL EDUCATION AND TRAINING AND HUMAN RESOURCES DEVELOPMENT IN BULGARIA'S ECONOMIC GROWTH

Nadezhda Stoyanova Kostadinova and Alina Nicoleta Boncilica

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2024, vol. 18, issue 1, 370-379

Abstract: Vocational education and training is a major engine for the economic growth of a country by developing skills that provide individuals with the opportunity to find skill-related jobs. Also, human resource development plays an essential role in the development of an adaptable and skilled workforce to drive innovation and economic growth. Taking these concepts into account, our article focuses on the role of vocational education and training and human resources development in economic growth in Bulgaria. We performed linear regressions using IBM SPSS Statistics to test the hypotheses deduced from literature. The results show that vocational education and training and human resource development have a positive influence on the economic growth of Bulgaria. Furthermore, vocational education and training plays a crucial role in the development of human resources to increase financial performance and competitiveness in a national economy. In conclusion, it can be stated that economic growth indicators, such as labor productivity, the increase in the employment rate, and the decrease in the poverty rate, depend on the quality of human resources.

Keywords: vocational education and training; human resources development; economic growth. (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:18:y:2024:i:1:p:370-379

DOI: 10.24818/IMC/2024/04.03

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