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Human Capital in the Contemporary Empirical Theory of Economic Growth

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  • Ralitsa Simeonova-Ganeva

Abstract

An effort was made to classify the contemporary models of economic growth, including the production factor – human capital. The models are identified according to the applied analysis approach, as well as according to the mechanism of the effect of the human factor on the growth. The focus is placed on the econometric modeling and the empirical estimate of the influence of the human capital on the econometric growth. The main studies and results are shown both in the neoclassical and in the endogenous empirical models of growth. The key conclusions are revealed from the theoretical and empirical modeling of growth and the role of human capital, illustrated in the annexes by means of summed up tables and conclusions with selected models of growth and human capital.

Suggested Citation

  • Ralitsa Simeonova-Ganeva, 2010. "Human Capital in the Contemporary Empirical Theory of Economic Growth," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 86-106.
  • Handle: RePEc:bas:econth:y:2010:i:3:p:86-106
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    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • N30 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - General, International, or Comparative
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O49 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other

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