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Impact Analysis of Changes in Human Resource Capital on Economic Development - from Gravely Underdeveloped to Highly Developed Societies


  • Zeljko Pozega

    () (Faculty of Economics in Osijek, Croatia)

  • Boris Crnkovic

    () (Faculty of Economics in Osijek, Croatia)


This research encompasses 177 countries around the world with the data on human resource variables for the year 2005. The countries have been put into four groups: gravely underdeveloped, developing, developed, and highly developed. The research has looked into the variables Human Development Index, population, population over 65 years of age, primary education enrolment, investment into secondary education, investment into tertiary education, investment into research and development, Gender–Related Development Index and productivity increase, and analyzed how they influence the economic growth rate. This means that the impact of changes in the observed variables is analyzed, i.e. how they influence the standard of living and level of development in countries of the world. The main hypothesis is that investing in people, i.e. in primary, secondary and tertiary education will bring long-term positive effects on social growth and development, thus contributing to the level of development and overall standard of living. Another hypothesis is that, depending on the development level, human capital and education will exert different influence on GDP per capita, which indicates that a number of economic variables play a major role on the effects of education.

Suggested Citation

  • Zeljko Pozega & Boris Crnkovic, 2009. "Impact Analysis of Changes in Human Resource Capital on Economic Development - from Gravely Underdeveloped to Highly Developed Societies," Interdisciplinary Management Research, Josip Juraj Strossmayer University of Osijek, Faculty of Economics, Croatia, vol. 5, pages 207-214.
  • Handle: RePEc:osi:journl:v:5:y:2009:p:207-214

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    References listed on IDEAS

    1. Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, January.
    2. Philippe Robert-Demontrond & R. Ringoot, 2004. "Introduction," Post-Print halshs-00081823, HAL.
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    More about this item


    primary education; secondary education; tertiary education; human resource capital; economic development; development level;

    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
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration


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