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  • The effect of education was already emphasized by the Classical economists. Comprehensive frameworks of human capital theories appeared in the early Sixties of 20th century. The human capital effect on economic growth and productivity was confirmed by many economic studies in the last two decades. The main aim of this paper is to find out growth effect of human capital in the selected European Union countries during 2000-2010. Augmented standard aggregate production function linking output to productive inputs - labour, physical and human capital and total factor productivity is used according to the new theories of economic growth. Due to shortcoming of observations panel data model was performed. Positive and statistically significant effect of all inputs was found.
  • The effect of education was already emphasized by the Classical economists. Comprehensive frameworks of human capital theories appeared in the early Sixties of 20th century. The human capital effect on economic growth and productivity was confirmed by many economic studies in the last two decades. The main aim of this paper is to find out growth effect of human capital in the selected European Union countries during 2000-2010. Augmented standard aggregate production function linking output to productive inputs - labour, physical and human capital and total factor productivity is used according to the new theories of economic growth. Due to shortcoming of observations panel data model was performed. Positive and statistically significant effect of all inputs was found. (en)
Title
  • Production Function, Human Capital and selected Countries of the European Union
  • Production Function, Human Capital and selected Countries of the European Union (en)
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  • Production Function, Human Capital and selected Countries of the European Union
  • Production Function, Human Capital and selected Countries of the European Union (en)
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  • RIV/47813059:19520/13:#0002215!RIV14-MSM-19520___
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  • O
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  • 99998
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  • RIV/47813059:19520/13:#0002215
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  • Economic growth; Human Capital; National Competitiveness; Panel Data Model; Production Function (en)
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  • [1D56F624BD2E]
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  • Chania, Kréta
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  • Athény
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  • Proceedings of the 5th International Conference on Applied Economics, Business and Development (AEBD'13)
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  • VERNER, Tomáš
  • CHUDÁRKOVÁ, Silvie
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  • WSEAS Press
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  • 978-960-474-323-0
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  • 19520
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