How Does Human Capital Affect Economic Growth ?

• Main Author: Turmandakh Bayanmend
• Other Authors: Kam, Tai-Yung
• Format: Others
• Language: en_US
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/22342310453774550627

碩士 === 亞洲大學 === 財務金融學系 === 102 === ABSTRACT Based on the empirical investigations and theory of endogenous growth, this paper examines the role of human capital on economic growth from 118 countries over period from 1980 to 2006. The first part of this paper classifies the education into primary, secondary and tertiary ones to test whether each educational level affect economic growth differently and attempt ones to test whether each educational level affect economic growth differently and attempt to uncover this different effect among different countries development. Then we focus on the composition of human capital that be categorized into agriculture , industry (science manufacture), service (art, humanity, health, society, service) types to find which types of human capital has the greatest impact to economic growth and add the factor of country’s industrial structure to test whether the growth effect of education depends on the coordination between country’s education fields and it’s industrial structure of local economics. Empirical results indicates three conclusions. First, tertiary education has the greatest contribution to economic growth for all countries' development. In particular, the less-developed nations need more tertiary human capital to catch up with the well- developed ones. Second, we find out that only the skill has positively contributed to economic growth. Finally, as including the factor of development and industrial organization, the human capital of industry skill only in developing countries and the nations with high- profession guiding in the industry has significant growth effect.