Examining Human Capital as a Factor of Economic Growth
Keywords:
gospodarska rast, človeški kapital, izobraževanje, napredek, družbena blaginjaAbstract
Researchers define human capital as the knowledge and skills of people gained through on-the-job education and training, and work experience. The question of the nature and causes of the wealth of nations since Adam Smith has been one of the important questions in examining the factors of economic growth. The research seeks to identify and at the same time operationalize human capital as a recognized driver of economic growth. Based on the secondary data and the results of the principal component analysis, we found two components: the first links economic growth with human capital, and the second with economic and technological factors. Based on the results obtained, we confirm that human capital has a statistically significant positive effect on economic growth.
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