Human capital and economic growth in OECD countries: some new insights

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F20%3A10425501" target="_blank" >RIV/00216208:11230/20:10425501 - isvavai.cz</a>

Výsledek na webu

<a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=nc-z9oXn7Q" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=nc-z9oXn7Q</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1108/JEAS-07-2019-0073" target="_blank" >10.1108/JEAS-07-2019-0073</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Human capital and economic growth in OECD countries: some new insights

Popis výsledku v původním jazyce

Purpose The new growth literature in general is very optimistic about the positive impact that human capital has on the economic growth of countries. Based on this argument, the current paper focusses to investigate the impact of different types of human capital on economic growth. Design/methodology/approach The paper utilizes data for the period 1998 to 2017 and employs suitable econometric techniques. Findings It is found that it is not the stock of human capital rather its utilization in terms of average working hours that matters for higher growth. Other than human capital, trade openness and investment are positively associated with growth. On the other hand, inflation has an insignificant impact while employment level has a negative impact on growth. Moreover, for developing countries, the study also revealed that stock of human capital has negatively and average working hours has positively impacted economic growth. Finally, domestic investment and employment level appeared to be the main growth determinants in developing countries. Research limitations/implications Policymakers are suggested to ensure the maximum utilization of working hours, trade openness and domestic investment in improving economic growth in OECD countries. Originality/value This study has visualized the impact of human capital on economic growth from a new perspective and hence would be useful for policymakers.

Název v anglickém jazyce

Human capital and economic growth in OECD countries: some new insights

Popis výsledku anglicky

Purpose The new growth literature in general is very optimistic about the positive impact that human capital has on the economic growth of countries. Based on this argument, the current paper focusses to investigate the impact of different types of human capital on economic growth. Design/methodology/approach The paper utilizes data for the period 1998 to 2017 and employs suitable econometric techniques. Findings It is found that it is not the stock of human capital rather its utilization in terms of average working hours that matters for higher growth. Other than human capital, trade openness and investment are positively associated with growth. On the other hand, inflation has an insignificant impact while employment level has a negative impact on growth. Moreover, for developing countries, the study also revealed that stock of human capital has negatively and average working hours has positively impacted economic growth. Finally, domestic investment and employment level appeared to be the main growth determinants in developing countries. Research limitations/implications Policymakers are suggested to ensure the maximum utilization of working hours, trade openness and domestic investment in improving economic growth in OECD countries. Originality/value This study has visualized the impact of human capital on economic growth from a new perspective and hence would be useful for policymakers.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

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OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2020

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Journal of Economic and Administrative Sciences

ISSN

1026-4116

e-ISSN

—

Svazek periodika

36

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

14

Strana od-do

367-380

Kód UT WoS článku

000539615600001

EID výsledku v databázi Scopus

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