THE HUMAN CAPITAL AND DEVELOPMENT. THE ROMANIAN CASE STUDY
Institute for Economic Forecasting Conference Proceedings from Institute for Economic Forecasting
The human capital is the main driver of development and economic growth. This paper is focused on human capital and tries to show how the human capital, as an important economic factor contributes to the growth of the economy. Romer (1969) identified a positive relation between the initial level of literacy and its rate of growth and the increase of income per capita. Benhabib, and Spiegel (1994) showed that the growth rate of total factor productivity depends on the human capital stock level. Wilson and Briscoe (2004) in a literature review of relation between human capital and economic performance at macroeconomic level highlighted that the increases in economic growth across the EU are associated with increases in both education and training. This paper is focused on the relation between human capital and development in Romania and uses econometric techniques to highlight the role of human capital in increasing the country’s wealth.
Keywords: human capital; development; inovation (search for similar items in EconPapers)
JEL-codes: E24 F63 J24 O15 O31 (search for similar items in EconPapers)
Pages: 15 pages
New Economics Papers: this item is included in nep-gro, nep-knm, nep-mac and nep-tra
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Working Paper: The human capital and development. The Romanian case study (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:rjr:wpconf:161105
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