Effect of Human Capital on Economic Growth

Student: Yulusov Mark

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Final Grade: 7

Year of Graduation: 2019

The effect of human capital and structural change on economic growth is studied in this work. In addition, an indirect effect of human capital through structural change on economic growth is also examined. Two samples are used in order to test the hypothesis: sample 1 consists of 20 countries for 55 years, and sample 2 contains 38 countries for 25 years. A linear dynamic panel data model is used as a primary procedure of estimation of regressions. The result of the study is, that human capital has a positive significant impact on economic growth. Structural change and interaction between human capital and structural change do not have a robust effect on economic growth. Keywords: economic growth, aggregate human capital, structural change

Full text (added June 13, 2019)

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