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Human Capital in Economic Growth: A Review of Theory and Empirics

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  • Ralitsa Simeonova-Ganeva

Abstract

Human capital has been considered as a factor in the macroeconomic production function for the first time in the seminal work of Lucas (1988). Later on, it was also used as a regressor in the empirical analysis of Mankiw, Romer and Weil (1990). Over the past twenty years, economists have explored the relationship between economic growth and human capital in numerous theoretical and empirical studies. The current paper attempts to review and generalize the developments of the theoretical and empirical models during this period as well as to summarize

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  • Ralitsa Simeonova-Ganeva, 2010. "Human Capital in Economic Growth: A Review of Theory and Empirics," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 131-149.
    • Handle: RePEc:bas:econth:y:2010:i:7:p:131-149
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    2. Stela Raleva, 2023. "Characteristics and Factors of Economic Growth in Bulgaria (1970–2008)," Proceedings of the Centre for Economic History Research, Centre for Economic History Research, vol. 8, pages 209-221, November.
    3. Btool H. Mohamed & Ibrahim Ari & Mohammed bin Saleh Al-Sada & Muammer Koç, 2021. "Strategizing Human Development for a Country in Transition from a Resource-Based to a Knowledge-Based Economy," Sustainability, MDPI, vol. 13(24), pages 1-27, December.

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    More about this item

    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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