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Growth in Europe: Decomposition and Human Capital Contribution

Author

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  • Eduard Nezinsky

    (University of Economics, Slovakia)

Abstract

The role of human capital for economic growth has been given a massive body of evidence up to the present, mostly employing parametric regression analysis. In this study, a non-parametric data envelopment analysis method is used to identify the type of technological progress in Europe with respect to involvement of human capital over the period of 2000 – 2010. The decomposition procedure is based on the ratios of benchmarks resulting from linear optimization problems, specifically, outputoriented slacked-based DEA models with labour, physical and human capital as inputs producing GDP. The results imply that economic growth is taking place mainly due to technology combining capital, knowledge and labour rather than pure human capital or extensive factors of production accumulation. The implementation for European integration policies should thus involve putting more stress on factors facilitating synergy effects rather than pursuing particular goals.

Suggested Citation

  • Eduard Nezinsky, 2016. "Growth in Europe: Decomposition and Human Capital Contribution," Managing Innovation and Diversity in Knowledge Society Through Turbulent Time: Proceedings of the MakeLearn and TIIM Joint International Conference 2016,, ToKnowPress.
    • Handle: RePEc:tkp:mklp16:917-924
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