EDUCATION AS AN INSTRUMENT OF HUMAN CAPITAL DEVELOPMENT
EDUCATION AS AN INSTRUMENT OF HUMAN CAPITAL DEVELOPMENT

Summary/Abstract: Human capital is one of the most important conditions for inclusive economic gpowth. In recent years, conducting research on the progress of human capital has expanded. The growth rate of the country's budget revenue expands the development of social sectors, and the improvment of human capital and its effective use is one of the essential directions of the active policy of the state.In the article, a regression model was established between the budget revenue of country and education expenditure . An econometric study of dependence was conducted in 1995-2021 based on 27-year statistical indicators of economic growth parameters of the Republic of Azerbaijan. In order to determine the adequacy of the model, certain tests were applied during the analysis. The significance of the model was determined using the F-Fisher test, the Student test and the CUSUM test. The heteroskedasticity of the residuals of the model was checked using the White test, and the stationarity of the time series was determined using the Dickey Fuller test.

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