Growth in Europe: Decomposition and Human Capital Contribution

Eduard Nezinsky
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Eduard Nezinsky: University of Economics, Slovakia

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Abstract: The role of human capital for economic growth has been given a massive body of evidence up to the present, mostly employing parametric regression analysis. In this study, a non-parametric data envelopment analysis method is used to identify the type of technological progress in Europe with respect to involvement of human capital over the period of 2000 – 2010. The decomposition procedure is based on the ratios of benchmarks resulting from linear optimization problems, specifically, outputoriented slacked-based DEA models with labour, physical and human capital as inputs producing GDP. The results imply that economic growth is taking place mainly due to technology combining capital, knowledge and labour rather than pure human capital or extensive factors of production accumulation. The implementation for European integration policies should thus involve putting more stress on factors facilitating synergy effects rather than pursuing particular goals.

Keywords: economic growth; human capital; data envelopment analysis; SBM model; decomposition (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:tkp:mklp16:917-924

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