BazEkon - The Main Library of the Cracow University of Economics

BazEkon home page

Main menu

Author
Nikolli Emirgena (University of Gdansk, Poland), Borkowski Przemysław (University of Gdansk, Poland)
Title
Human Capital and Economic Growth - Evidence from the Balkan Region
Source
International Business and Global Economy, 2022, nr 41, s. 63-78, bibliogr. 39 poz.
Biznes Międzynarodowy w Gospodarce Globalnej
Issue title
The Selected Economic Issues of International Markets
Keyword
Kapitał ludzki, Zarządzanie kapitałem ludzkim, Wzrost gospodarczy, Wzrost gospodarczy regionu, Rozwój gospodarczy
Human capital, Human Capital Management, Economic growth, Economic growth of the region, Economic development
Note
JEL Classification: C23, J24, O47
summ.
Country
Bałkany, Kraje bałkańskie
Balkan, Balkan countries
Abstract
This study empirically examines the relationship between human capital and economic growth in 8 Balkan countries over the period of 2000-2019. The study considers an array of statistical tech- niques such as the Generalized Linear Model (GLM) regression, the Dricroll-Kraray approach (D-K), and the System GMM (S-GMM) for data analysis. The study documents the positive and statistically significant impact of human capital on economic development. The analysis of the se- lected subsample of countries also established the positive role of human capital in shaping eco- nomic growth. The findings suggest that policymakers may design a comprehensive human development-related policy to achieve sustainable economic growth, at least in the Balkan region.(original abstract)
Full text
Show
Bibliography
Show
  1. Abbas Q., Nasir Z.M., 2001, Endogenous growth and human capital: A comparative study of Paki- stan and Sri Lanka, The Pakistan Development Review, no. 2.
  2. Acheampong A.O., Amponsah M., Boateng E., 2020, Does financial development mitigate car- bon emissions? Evidence from heterogeneous financial economies, Energy Economics, no. 2, doi.org/10.1016/j.eneco.2020.104768.
  3. Agiomirgianakis G., Asteriou D., Monastiriotis V., 2002, Human capital and economic growth revisited: A dynamic panel data study, International Advances in Economic Research, no. 3, doi.org/10.1007/BF02297955.
  4. Ahmed F., Kousar S., Pervaiz A., Shabbir A., 2022, Do institutional quality and financial devel- opment affect sustainable economic growth? Evidence from South Asian countries, Borsa Istanbul Review, no. 1, doi.org/10.1016/j.bir.2021.03.005.
  5. Ahmed Z., Nathaniel S.P., Shahbaz M., 2021, The criticality of information and communication technology and human capital in environmental sustainability: Evidence from Latin American and Caribbean countries, Journal of Cleaner Production, no. 2, doi.org/10.1016/j.jclepro. 2020.125529.
  6. Ali M., Egbetokun A., Memon M.H., 2018, Human capital, social capabilities and economic growth, Economies, no. 1.
  7. Alshubiri F., Elheddad M., 2020, Foreign finance, economic growth and CO2 emissions nexus in OECD countries, International Journal of Climate Change Strategies and Manage- ment, no. 2, doi.org/10.1108/IJCCSM-12-2018-0082.
  8. Amassoma D., Nwosa P., 2011, Investment in human capital and economic growth in Nigeria using a causality approach, Canadian Social Science, no. 4.
  9. Appiah-Otoo I., Song N., 2021, The impact of ICT on economic growth: Comparing rich and poor countries, Telecommunications Policy, no. 2, doi.org/10.1016/j.telpol.2020.102082.
  10. Benhabib J., Spiegel M.M., 1994, The role of human capital in economic development evidence from aggregate cross-country data, Journal of Monetary Economics, no. 2, doi.org/10.1016/ 0304-3932(94)90047-7.
  11. Deng J.-R., Long R., 2017, A study of the impact of idiosyncratic human capital on China's regional economic growth, Science Research Management, no. 12.
  12. Filmer D., Pritchett L., 1999, The effect of household wealth on educational attainment: Evidence from 35 countries, Population Development Review, no. 1.
  13. Han J.-S., Lee J.-W., 2020, Demographic change, human capital, and economic growth in Korea, Japan and the World Economy, no. 1.
  14. Hunjra A.I., Azam M., Bruna M.G., Taskin D., 2022, Role of financial development for sustainable economic development in low middle income countries, Finance Research Letters, no. 1, doi.org/10.1016/j.frl.2022.102793.
  15. Iqbal N., Manzoor M.S., Bhatti M.I., 2021, Asymmetry and leverage with news impact curve per- spective in Australian stock returns' volatility during COVID-19, Journal of Risk Financial Management, no. 7.
  16. Keji S.A., 2021, Human capital and economic growth in Nigeria, Future Business Journal, no. 1, doi.org/10.1186/s43093-021-00095-4.
  17. Le T.-H., Chuc A.T., Taghizadeh-Hesary F., 2019, Financial inclusion and its impact on financial efficiency and sustainability: Empirical evidence from Asia, Borsa Istanbul Review, no. 4, doi.org/10.1016/j.bir.2019.07.002.
  18. Le T.-H., Le H.-C., Taghizadeh-Hesary F., 2020, Does financial inclusion impact CO2 emissions? Evidence from Asia, Finance Research Letters, no. 1.
  19. Li H., Liang H., 2010, Health, education, and economic growth in East Asia, Journal of Chinese Economic and Foreign Trade Studies, no. 2, doi.org/10.1108/17544401011052267.
  20. Ma L., 2021, Research on the impact of demographic structure transformation on economic growth, Statistics & Decisions, no. 1, doi.org/10.1016/j.resourpol.2020.101677.
  21. Nchofoung T.N., Asongu S.A., 2022, ICT for sustainable development: Global comparative evi- dence of globalisation thresholds, Telecommunications Policy, no. 5.
  22. Ogundari K., Awokuse T., 2018, Human capital contribution to economic growth in Sub-Saharan Africa: Does health status matter more than education?, Economic Analysis and Policy, no. 01, doi.org/10.1016/j.eap.2018.02.001.
  23. Okunade S.O., Alimi A.S., Olayiwola A.S., 2022, Do human capital development and globaliza- tion matter for productivity growth? New Evidence from Africa, Social Sciences & Humani- ties Open, no. 1, doi.org/10.1016/j.ssaho.2022.100291.
  24. Opoku E.E.O., Dogah K.E., Aluko O.A., 2022, The contribution of human development towards environmental sustainability, Energy Economics, no. 1, doi.org/10.1016/j.eneco.2021. 105782.
  25. Ozturk I., Ullah S., 2022, Does digital financial inclusion matter for economic growth and environ- mental sustainability in OBRI economies? An empirical analysis, Resources, Conservation and Recycling, no. 4, doi.org/10.1016/j.resconrec.2022.106489.
  26. Pradhan R.P., Arvin M.B., Samadhan B., Taneja S., 2013, The impact of stock market develop- ment on inflation and economic growth of 16 Asian countries: A panel var approach, Applied Econometrics International Development, no. 1.
  27. Pritchett L., 2001, Where has all the education gone?, The World Bank Economic Review, no. 3.
  28. Rahim S., Murshed M., Umarbeyli S., Kirikkaleli D., Ahmad M., Tufail M., Wahab S., 2021, Do natural resources abundance and human capital development promote economic growth? A study on the resource curse hypothesis in Next Eleven countries, Resources, Environment and Sustainability, no. 1, doi.org/10.1016/j.resenv.2021.100018.
  29. Renzhi N., Baek Y.J., 2020, Can financial inclusion be an effective mitigation measure? evidence from panel data analysis of the environmental Kuznets curve, Finance Research Letters, no. 5), doi.org/10.1016/j.frl.2020.101725.
  30. Reza F., Widodo T., 2013, The impact of education on economic growth in Indonesia, Journal of In- donesian Economy Business, no. 1.
  31. Self S., Grabowski R., 2004, Does education at all levels cause growth? India, a case study, Eco- nomics of Education Review, no. 1, doi.org/10.1016/S0272-7757(03)00045-1.
  32. Shidong L., Chupradit S., Maneengam A., Suksatan W., Phan The C., Nguyen Ngoc Q., 2022, The moderating role of human capital and renewable energy in promoting economic de- velopment in G10 economies: Evidence from CUP-FM and CUP-BC methods, Renewable Energy, no. 2.
  33. Siddiqui A., 2006, Macroeconomic returns to education in South Asia, Journal of Economic Co- operation, no. 4.
  34. Siddiqui A., Rehman A. ur, 2017, The human capital and economic growth nexus: in East and South Asia, Applied Economics, no. 28, doi.org/10.1080/00036846.2016.1245841.
  35. Teixeira A.A.C., Queirós A.S.S., 2016, Economic growth, human capital and structural change: A dynamic panel data analysis, Research Policy, no. 8.
  36. Wang S., Lin X., Xiao H., Bu N., Li Y., 2022, Empirical study on human capital, economic growth and sustainable development: Taking Shandong Province as an example, Sustainability, no. 12.
  37. Zakaria M., Bibi S., 2019, Financial development and environment in South Asia: the role of institu- tional quality, Environmental Science and Pollution Research, no. 8, doi.org/10.1007/ s11356-019-04284.
  38. Zhang C., Zhuang L., 2011, The composition of human capital and economic growth: Evidence from China using dynamic panel data analysis, China Economic Review, no. 1, doi.org/ 10.1016/j.chieco.2010.11.001.
  39. Ziberi B.F., Rexha D., Ibraimi X., Avdiaj B., 2022, Empirical analysis of the impact of education on economic growth, Economies, no. 4.
Cited by
Show
ISSN
2300-6102
Language
pol
URI / DOI
https://doi.org/10.26881/ibage.2022.41.04
Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on LinkedIn Wyślij znajomemu