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Relation Between Human Capital And Regional Economic Development In Romania

Author

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  • Elena PELINESCU

    (Institute for Economic Forecasting of the Romanian Academy)

Abstract

This paper is focused on the relation between human capital and regional economic development in Romania, in order to highlight the effect of human capital on economic development at regional level. Using Eurostat data from 2000-2014, in a panel model, Pooled Last Squared with cross fixed effects and cross section fixed dummy variable, we show a positive and statistically significant correlation between GDP growth at macro regional level and human capital expressed as the R D effort at national level, and the workforce employed in research activities as theoretically expected. From the positive values of the coefficients within the model we conclude that the developed macro regions enjoy a high level of returns, while investing in human capital.

Suggested Citation

  • Elena PELINESCU, 2017. "Relation Between Human Capital And Regional Economic Development In Romania," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 47(3), pages 93-101, Supplemen.
    • Handle: RePEc:ath:journl:v:47:y:2017:i:3:p:93-101
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    More about this item

    Keywords

    human capital; regional economic development; econometric methods;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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