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Article

Open Access

The Role of Human Capital in Economic Growt

Author(s)

Derviş Boztosun, Semra Aksoylu, Zübeyde Şentürk Ulucak

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DOI:10.17265/2328-7144/2016.03.001

Affiliation(s)

Derviş Boztosun, associate professor, Colleges of Applied Sciences, Erciyes University, Kayseri, Turkey.
Semra Aksoylu, associate professor, Colleges of Applied Sciences, Erciyes University, Kayseri, Turkey.
Zübeyde Şentürk Ulucak, research assistant, Faculty of Economics and Administrative Sciences, Erciyes University, Kayseri, Turkey.

ABSTRACT

In endogenous growth theories, with the endogeneity of technology and its inclusion into the model, the new technologies produced by individuals equipped with knowledge, skills, and experience by using this technology were regarded as the human capital investments of countries. Later, the effects of human capital on economic growth became a significant topic in the empirical literature. In this study, initially the basic approaches to human capital were theoretically investigated. Then, the relationships between human capital and economic growth were analyzed with cointegration and causality tests by using the data of Turkey for the period 1961-2011. Our findings revealed a dual causality relationship between human capital and economic growth variables.

KEYWORDS

human capital, economic growth, cointegration with structural break

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