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Assessing the Impact of Human Capital on Economic Growth: A Dual Approach Using Quantity and Quality Proxies

Author

Listed:
  • Anca Maria UNGUREANU

    (Department of Economics, Faculty of Economics and Business Administration, Babeș-Bolyai University, Cluj-Napoca, Romania)

  • Monica Ioana POP SILAGHI

    (Department of Economics, Faculty of Economics and Business Administration, Babeș-Bolyai University, Cluj-Napoca, Romania)

Abstract

This study explores the long- and short-run effects of human capital on economic growth across 27 European Union countries between 1980 and 2024, using a panel ARDL–PMG framework. It distinguishes between the quantity and quality dimensions of education, evaluating their respective contributions to GDP growth. The findings indicate a statistically significant and robust long-run relationship among the selected variables, as confirmed by the negative and highly significant error correction term (–0.3176, p

Suggested Citation

  • Anca Maria UNGUREANU & Monica Ioana POP SILAGHI, 2025. "Assessing the Impact of Human Capital on Economic Growth: A Dual Approach Using Quantity and Quality Proxies," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 10(2), pages 100-115, September.
    • Handle: RePEc:ora:jrojbe:v:10:y:2025:i:2:p:100-115
    DOI: http://doi.org/10.47535/1991ojbe220
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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