The economic growth and human capital: the case of Visegrad countries

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dc.contributor.author Verner, Tomáš
dc.contributor.author Chudárková, Silvie
dc.contributor.other Ekonomická fakulta cs
dc.date.accessioned 2014-05-22
dc.date.available 2014-05-22
dc.date.issued 2013-08
dc.identifier.isbn 978-80-7372-953-0
dc.identifier.uri https://dspace.tul.cz/handle/15240/6958
dc.description.abstract Impact of education, more precisely impact of skills and knowledge (human capital) to increase individual productivity and wealth of nation, was already emphasized by classical economists. Comprehensive concepts of theory of human capital appeared in the early Sixties of 20th century. In the last two decades, the influence of human capital, more precisely influence of education on economic growth and productivity was confirmed by many economic studies. Human capital as an additional production factor is included in the new theories of economic growth. On the contrary, some experts criticize this unambiguous and inconclusive relation and some of them even disprove this hypothesis, publishing their studies. A lot of researchers expressed human capital as investment or expenditure in education, schooling enrollments or average length of education. In authors’ opinion, these variables do not seem to be appropriate indicators of human capital. This paper deals with the relationship of human capital and economic growth in Visegrad group countries during the period 1999-2010. We consider increasing in human capital will tend to economic growth and thus will contribute to improvement of national competitiveness. Because of the lack of observations the importance of human capital in the economic growth of these countries is being proven by using panel data analysis. The value of human capital is expressed by the graduates’ groups at the educational level, while economic growth is expressed by gross domestic product per capita. Annual data collected from Eurostat and converted into logs were employed. We found out the positive relationship between tertiary graduates and economic growth, on the other hand negative link between secondary graduates and economic growth. en
dc.format text
dc.format.extent 610-617 cs
dc.language.iso en
dc.publisher Technická Univerzita v Liberci cs
dc.publisher Technical university of Liberec, Czech Republic en
dc.relation.ispartofseries Liberec economic forum 2013: proceedings of the 11th international conference: 16th - 17th September 2013, Sychrov, Czech republic, EU /[editor Aleš Kocourek];1
dc.subject economic growth en
dc.subject human capital en
dc.subject national competitiveness en
dc.subject panel data model en
dc.subject.classification C23
dc.subject.classification J24
dc.title The economic growth and human capital: the case of Visegrad countries cs
dc.type Article en
dc.publisher.abbreviation TUL
local.faculty Faculty of Economics
local.access open
local.fulltext yes


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