BEŞERİ SERMAYE VE BÜYÜME ARASINDAKİ İLİŞKİ: G-7 ÜLKELERİ ÖRNEĞİ
THE RELATIONSHIP BETWEEN HUMAN CAPITAL AND GROWTH: THE CASE OF G-7 COUNTRIES

Summary/Abstract: The increase in the quality of human capital, which means the knowledge, skills or competencies of the individual, both positively affects social development and makes significant contributions to the development of the economy. In this study, it is aimed to examine the relationship between human capital and growth in G-7 (USA, Germany, UK, France, Italy, Japan and Canada) countries. The relationship between these variables is examined by panel VAR method using the growth rates, the total education expenditures in gross national income and the number of researchers for the period 1990-2018. In addition, Granger causality tests, variance decomposition and impulse-response functions are applied. As a result of the panel Granger causality test, a two-way causality relationship is reached between the growth variable and the variables of education expenditures and the number of researchers, while there is a one-way causality relationship between the education expenditures and the number of researchers.

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