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The Impact Of Human Capital On Innovation And Economic Growth In Romania

Author

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  • Elena PELINESCU

    (Institute for Economic Forecasting of the Romanian Academy)

Abstract

The goal of the Europe 2020 strategy: smart, sustainable and inclusive growth would be achieved by using human capital and its abilities to innovate, to diffuse knowledge in manufacturing services, to develop creative industries and by making a great effort to create a research-intensive economy. The present paper highlights the impact of human capital on innovation and economic growth based on an econometric model. In our paper using annual data during 2000-2015, from UNESCO and Eurostat we prove a positive influence of human capital (expressed as gross enrolment in secondary school and the average personnel costs per employee in the Knowledge-intensive high-technology services) and innovation (expressed by patent application) on economic growth and productivity.

Suggested Citation

  • Elena PELINESCU, 2017. "The Impact Of Human Capital On Innovation And Economic Growth In Romania," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 46(2), pages 44-50, June.
    • Handle: RePEc:ath:journl:v:46:y:2017:i:2:p:44-50
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    More about this item

    Keywords

    human capital; innovation; economic growth;
    All these keywords.

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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