The Impact Of Human Capital On Economic Growth. The Case Of Romania: 1990-2002
AbstractThe purpose of this paper is to study and quantify the impact of the human capital in the process of economic growth in Romania over the 1990-2002 period. We will consider an augmented Cobb-Douglas production function to include the human capital, approximated by the number of schooling years per capita in the labor force. Building a comparison between a theoretical and a hypothetical GDP will outline the impact of the human capital upon the economic growth. (*This is the revised version of the paper submitted to the International Development Center of Japan for completion of the Development Policies Course, 2003, Tokyo, Japan).
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Bibliographic InfoArticle provided by Institute for Economic Forecasting in its journal Romanian Journal of Economic Forecasting.
Volume (Year): 1 (2004)
Issue (Month): 3 (August)
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Cobb-Douglas production function; transition economies; human capital; economic growth models;
Find related papers by JEL classification:
- J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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