The Role of Human Capital in Economic Growth

Boztosun D., Aksoylu S., Şentürk Ulucak Z.

Economics World, vol.4, no.3, pp.101-110, 2016 (Peer-Reviewed Journal)

  • Publication Type: Article / Article
  • Volume: 4 Issue: 3
  • Publication Date: 2016
  • Doi Number: 10.17265/2328-7144/2016.03.001
  • Journal Name: Economics World
  • Journal Indexes: Index Copernicus
  • Page Numbers: pp.101-110
  • Kayseri University Affiliated: No

Abstract

In endogenous growth theories, with the endogeneity of technology and its inclusion into the model, the new technologies produced by individuals equipped with knowledge, skills, and experience by using this technology were regarded as the human capital investments of countries. Later, the effects of human capital on economic growth became a significant topic in the empirical literature. In this study, initially the basic approaches to human capital were theoretically investigated. Then, the relationships between human capital and economic growth were analyzed with cointegration and causality tests by using the data of Turkey for the period 1961-2011. Our findings revealed a dual causality relationship between human capital and economic growth variables.