On the relationship between human capital accumulation and economic growth

Freire-Serén, María Jesús

doi:10.1080/13504850210128820

Cited by 22 publications

(13 citation statements)

References 5 publications

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“…In terms of human capital development, the empirical literature reviewed in this study shows that human capital development is positively and significantly associated with economic growth (Fischer 1992;Knight, Loayza, and Villanueva 1993;Easterly and Levine 1997;Chen and Feng 2000;Radelet, Sachs, and Whang-Lee 2001;Freire-Seren 2002;Bayraktar 2006;Anyanwu 2014). However, in some cases human capital development was found to be negatively and significantly associated with economic growth (Hamilton and Monteagudo 1998).…”

Section: Discussionmentioning

confidence: 81%

“…These include Bleaney, Gemmell, and Kneller (2001), Freire-Seren (2002), Anaman (2004), Acikgoz and Mert (2005), Bayraktar (2006), Asheghian (2009) and Checherita-Westphal and Rother (2012). The methodological approach adopted in these studies was also mixed and included cross-country, panel and single-country regressions.…”

Section: Determinants Of Economic Growth In Developed Countriesmentioning

confidence: 99%

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Macroeconomic Determinants of Economic Growth: A Review of International Literature

Chirwa

Odhiambo

2016

South East European Journal of Economics and Business

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The paper conducts a qualitative narrative appraisal of the existing empirical literature on the key macroeconomic determinants of economic growth in developing and developed countries. Much as other empirical studies have investigated the determinants of economic growth using various econometric methods, the majority of these studies have not distinguished what drives or hinders economic growth in developing or developed countries. The study finds that the determinants of economic growth are different when this distinction is used. It reveals that in developing countries the key macroeconomic determinants of economic growth include foreign aid, foreign direct investment, fiscal policy, investment, trade, human capital development, demographics, monetary policy, natural resources, reforms and geographic, regional, political and financial factors. In developed countries, the study reveals that the key macroeconomic determinants that are associated with economic growth include physical capital, fiscal policy, human capital, trade, demographics, monetary policy and financial and technological factors.

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Section: Discussionmentioning

confidence: 81%

Section: Determinants Of Economic Growth In Developed Countriesmentioning

confidence: 99%

Macroeconomic Determinants of Economic Growth: A Review of International Literature

Chirwa

Odhiambo

2016

South East European Journal of Economics and Business

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“…Some scholars that research on the relationship between human capital accumulation and economic growth do not take into account the possible reverse impact of growth in human Cheng and Hsu (1997) in a study for Japan found bidirectional causality between human capital and economic growth. More recently Freire-Sere´n (2002) for the case of Spain proposed a new interpretation which assumes that the level of income achieved by the economy determines the accumulation of human capital. These interpretations are in line with the findings of the present study which show a positive correlation between market access and human capital accumulation.…”

Section: Introductionmentioning

confidence: 99%

Market access and human capital accumulation: the European Union case

Faíña

López‐Rodríguez

2006

Applied Economics Letters

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This study evaluates the role that market access plays in determining the spatial distribution of educational attainment levels among EU regions. Evidence is provided showing that in the EU educational attainment levels are higher in those regions with greater market access. This finding proves that remoteness is a penalty for the economic development and convergence of the European Union regions.

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“…Other way draws attention to the contribution of human capital in technology through education since it can help to innovation, adoption, and diffusion of new technologies. In this way, human capital contributes to productivity growth, which is described as 'rate effect' [23].…”

Section: Impact Of Human Capital On Economic Growthmentioning

confidence: 99%

An Assessment on the Importance of Human Capital in Economic Growth

Filiz¹

2019

International Scientific Conference ERAZ - Knowledge Based Sustainable Development

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Even though the emergence of the human capital theory was shaped in the context of microeconomics, it was applied to macroeconomics eventually by the implementation of the microeconomic production function at the national or economy-wide level. There are several economic growth models introduced in the literature on this matter over the years by placing aggregate production function in the center of their models, which lay the foundation of studies focusing on economic development. However, development of 'new growth theory' particularly draw attention to the relationship between human capital and growth that is followed by the efforts aiming to bring an explanation to the differences of growth across countries by considering several possible variables of growth.New growth theory attempted to bring an explanation to the process of economic growth in the long term through endogenous forces such as human capital, knowledge and information technology which also constituted the foundation of today's modern economies. Economic growth has been linked to an increase in knowledge, quality, and diversity of human capital rather than just a cumulative increase in the labor force. Consequently, human capital has been recognized as one of the significant factors in the process of economic growth in the literature, considering its positive contribution to creating more output in growth. However, it is noteworthy to state that literature on this topic seems to constitute some weaknesses methodologically and conceptually as well as empirical researches due to revealing reverse results.In this context, this paper aims to conduct a literature review to develop an understanding of the human capital concept and its importance in economic growth. Accordingly, the concepts of human capital and economic growth are analyzed theoretically by showing findings of some research in the literature on the relationship between both variables which indicated that human capital could have a significant positive impact on economic growth. As of theoretical character of the study, the paper is based on the systematic review of the literature on theories of economic growth by making use of secondary data like journals, papers, websites and various magazines as the primary sources to bring an explanation to the correlation between both variables.

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On the relationship between human capital accumulation and economic growth

Cited by 22 publications

References 5 publications

Macroeconomic Determinants of Economic Growth: A Review of International Literature

Macroeconomic Determinants of Economic Growth: A Review of International Literature

Market access and human capital accumulation: the European Union case

An Assessment on the Importance of Human Capital in Economic Growth

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