Review article
RELATIONSHIP BETWEEN HUMAN CAPITAL AND ECONOMIC GROWTH EMPHASIZING SOCIALIST AND OIL-PRODUCING COUNTRIES
Samaneh Mohammadi
Abstract
This paper aims to analyze the effect of human capital on economic growth. Linear regression models
with ordinary least squares method have been used for the analysis in which the dependent variable of
Gross Domestic Product (GDP) per capita growth is decided according to real price and independent
variables for human capital are enrollment rate in different education levels and also literacy rate. For
control variables, socialist countries and petroleum exporting countries are fed into the regression as
dummy variables. The cross-country data of this research are provided and calculated in a sectional
manner according to the information and statistics of the World Bank. The results of this research are
demonstrative of the positive and statistically meaningful influence of the variables of enrollment rate in
secondary schools and literacy level on GDP growth. Countries with socialist backgrounds and petroleum
exporting countries also have a positive and meaningful effect on GDP per capita growth.
Keywords
human capital; economic growth; socialism
Hrčak ID:
123670
URI
Publication date:
30.6.2015.
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