Analysis of the impact of corruption index, education and social capital on economic development
Analysis of the impact of corruption index, education and social capital on economic development

Summary/Abstract: This study analyzes the corruption index, educational index and index of social capital, compared to the degree of development of the world's countries. It is divided into three parts. The first part gives a brief theoretical review of the importance of different components of human capital on the personality and companies' business results, with additional analysis of influences (relevance factors) of each of the observed segments of human capital. In second part of the paper, the methodology and data used in the empirical research are discussed. Furthermore, results of the empirical research are analyzed, which tested the hypotheses on the influence of human capital and its components to the level of economic development. The goal of the research was to test the hypothesis on human capital, as having a positive and significant influence on the world's economic development. In addition, it was hypothesized that the countries with the more developed human capital are, on average, more developed and have a larger growth rate. Furthermore, this study tested the hypothesis on segments of human capital also having a positive influence on the world's economic development, with, on average, moral capital having the most significant influence, followed by intellectual and social.

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