The Effect of Educational Level on the Productivity in the Czech Republic

Abstract

Human capital theory assumes that investments in education increase worker productivity, which in macroeconomic terms leads to productivity growth across sectors and gross domestic product. In the article, the theory of human capital is verified, specifically the relationship between the level of education and productivity of economically active persons on the job market in the Czech Republic. For such verification, one-dimensional variance analysis is used. Prior to the test, null hypotheses are determined and secondary data are tested for distribution normality and homoskedasticity, i.e. for the suitability of their use in variance analysis.