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Human capital and economic development: A macroeconomic assessment

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  • Gundlach, Erich

Abstract

The role of human capital has so far not been well documented at the macroeconomic level. Many empirical studies lack a consistent theoretical foundation and there are measurement problems due to a very narrow concept of human capital focusing on formal education. Future empirical research should take into account other important determinants of human capital such as the quality of education, the experience of the workforce, and the health and nutritional status of the population.

Suggested Citation

  • Gundlach, Erich, 1997. "Human capital and economic development: A macroeconomic assessment," Open Access Publications from Kiel Institute for the World Economy 1696, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkie:1696
    DOI: 10.1007/BF02929817
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    2. Faisal Sultan Qadri, Faisal & Dr. Abdul Waheed, Waheed, 2011. "Human Capital and Economic Growth: Time Series Evidence from Pakistan," MPRA Paper 30654, University Library of Munich, Germany.
    3. J. O. Saka, 2020. "Human Capital Investment and Employment Growth in Nigeria," Theory Methodology Practice (TMP), Faculty of Economics, University of Miskolc, vol. 16(02), pages 81-88.
    4. Chengjuan Xia & Md. Qamruzzaman & Anass Hamadelneel Adow, 2022. "An Asymmetric Nexus: Remittance-Led Human Capital Development in the Top 10 Remittance-Receiving Countries: Are FDI and Gross Capital Formation Critical for a Road to Sustainability?," Sustainability, MDPI, vol. 14(6), pages 1-24, March.
    5. Herrmann Marco, 2002. "Zur empirischen Suche nach einer effizienten Investitionsquote für Ostdeutschland / About the Empirical Search for an Efficient Ratio of Investment to GDP for East Germany," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 222(6), pages 683-705, December.
    6. Kellermann, Kersten & Schlag, Carsten-Henning, 2006. "Bildung als öffentliche Aufgabe in Liechtenstein: Eine ökonomische Analyse des Bildungswesens unter besonderer Berücksichtigung der Hochschule. Studie im Auftrag der Regierung des Fürstentums Liechten," KOFL Studien, Konjunkturforschungsstelle Liechtenstein (KOFL), Vaduz, volume 3, number 3.
    7. Ijaz Rehman & Nurul Mahdzan & Alexandru Trifu & Muhammad Bilal, 2014. "A cointegration approach to modeling human capital formation, self-employment, and economic growth: evidence from Pakistan," Quality & Quantity: International Journal of Methodology, Springer, vol. 48(3), pages 1439-1453, May.
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    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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