A Literature Review of Human Capital and Economic Growth

Abstract

This work aims to examine the relationship between human capital and economic growth. The study analyzes datasets from previous works, reviews previous literature, and draws some conclusions on human capital and economic growth. The paper summarizes articles on human capital in terms of (i) the theoretical framework of economic growth theory, (ii) the neo-classical growth model, (iii) the Solow growth production-function, (iv) the new endogenous theory, and (v) empirical evidence on the relationship and causal link between human capital and economic growth. Assessing the literature on human capital and economic growth will serve as a comprehensive literature guide to policy formulation and implementation in the short-run and long-run of creating developmental goals for any region.