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publication name Causal Relationship between Human Capital and Economic Growth in European Countries (EU-28): Panel Analysis
Authors Abdelmajied Fathy E.Y. and Lenar N Safijllin
year 2019
keywords Economic Growth, Human Capital, Panel Data, European countries.
journal International Journal on Emerging Technologies
volume 10
issue 2a
pages 66-70
publisher International Journal on Emerging Technologies
Local/International International
Paper Link https://www.researchtrend.net/ijet/current_issue_ijet.php?taxonomy-id=62
Full paper download
Supplementary materials Not Available
Abstract

The main objective of this study is to examine the empirical relationship between education, labor, and innovation as a proxy human capital and GDP per capita in European countries (EU-28). Our hypothesis is that (1) human capital is positive (significantly) related to the GDP per capita. (2) The human capital plays the same role of physical capital in increasing the real GDP per capita. The statistical methods utilized are the Panel Data (fixed and random effect) Model for (EU-28) through the period from 1995 to 2017. Findings, there is a strong relationship between human capital and real GDP per capita in (EU-28), this the human capital plays an important role in those countries, according to the endogenous economic theory, especially, (MRW model). Also, the paper concludes that human capital plays the same role of physical capital in increasing the real GDP per capita.

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