BEŞERİ SERMAYE VE EKONOMİK BÜYÜME İLİŞKİSİNİN TEORİK VE AMPİRİK LİTERATÜRÜ

Year 2023, Volume: 8 Issue: 2, 431 - 448, 30.06.2023

Bayram Aydın , Murat Dündar Demiröz

https://doi.org/10.29106/fesa.1267542

Abstract

Ekonomik performansın ve refah şartlarının en belirgin göstergelerinden biri olan iktisadi büyüme, hükümet politikalarına yol veren önemli bir parametredir. Bu nedenle iktisat literatürü tarafından birçok akademik araştırmaya konu olmuştur. Geçmişte büyümenin tamamıyla fiziksel kaynaklar sayesinde elde edildiği düşünülse de günümüzde büyümeye bilgi gibi maddi olmayan unsurlar kaynaklık etmektedir. Bilginin kullanımı ve temini için ise beceri ve tecrübe sahibi kişilerin varlığına ihtiyaç duyulmaktadır. Bu noktada Schultz (1961), bir ulusun sahip olduğu bilgi, beceri ve tecrübe sahibi insan stokunu beşeri sermaye olarak tanımlamıştır. İçsel büyüme teorileri çerçevesinde literatürde önemli yer tutan beşeri sermaye kavramı ekonomik büyümeyle ilişkilendirilmiştir. Ancak, yapılan çalışmalar çeşitli sonuçlar ortaya çıkarmış ve değişkenler arasındaki ilişki hakkında fikir birliğine ulaşılamamıştır. Bu nedenle bu çalışmada, beşeri sermaye ve ekonomik büyüme ilişkisine yönelik yapılan teorik ve ampirik bulguların bir araya getirilmesi hedeflenmiştir.

Keywords

Beşeri Sermaye, Ekonomik Büyüme, Literatür Çalışması

THEORETICAL AND EMPIRICAL LITERATURE OF THE RELATIONSHIP BETWEEN HUMAN CAPITAL AND ECONOMIC GROWTH

Abstract

Economic growth, which is prominent indicators of economic performance and welfare conditions, is an important parameter that gives way to government policies. For this reason, it has been the subject of many academic studies by the economics literature. Although in the past it was thought that growth was achieved entirely through physical resources, today growth is based on intangible factors such as knowledge. For the use and supply of information, the presence of people with skills and experience is needed. At this point, Schultz (1961) defined the human stock of a nation with knowledge, skills and experience as human capital. The concept of human capital, which has an important place in the literature within the framework of endogenous growth theories, has been associated with economic growth. However, studies have revealed various results and no consensus has been reached about the relationship between the variables. Therefore, in this study, it is aimed to bring together the theoretical and empirical findings on the relationship between human capital and economic growth.

Keywords

Human Capital, Economic Growth, Literature Study

References

• ABDELLAOUI, H. (2023). Economic Freedom, Human Capital and Economic Growth In The Maghreb Countries, Revue Européenne du Droit Social, 58(1), 132-147.
• ADELAKUN, O. J. (2011). Human Capital Development and Economic Growth in Nigeria. European Journal of Business and Management, 3(9), 29-38.
• ADELEYE, B. N., BENGANA, I., BOUKHELKHAL, A., SHAFIQ, M. M., & ABDULKAREEM, H. K. (2022). Does human capital tilt the population-economic growth dynamics? Evidence From Middle East and North African Countries. Social Indicators Research, 162(2), 863–883.
• AFZAL, M., REHMAN, H. U., FAROOQ, M. S. & SARWAR, K. (2011). Education and economic growth in Pakistan: A cointegration and causality analysis, International Journal of Educational Research, 50, 321–335.
• AGASISTI, T. & BERTOLETTI, A. (2020). Higher education and economic growth: A longitudinal study of European regions 2000–2017. Socio-Economic Planning Sciences, doi: 0.1016/j.seps.2020.100940.
• AGHION P. ve HOWITT, P. (1992). A Model of Through Creative Destruction, Econometrica, 60(2), ss.323-351.
• AGIOMIRGIONAKIS, G., ASTRERIOU, D., & MONASTIRIOTIS, V. (2002). Human Capital and Economic Growth Revisited:A Dynamic Panel Data Analysis. International Advances in Economic Research, 8(3), 177-187.
• AGUAYO-RICO, A. & IRIS A. G-T (2005). Empirical Evidence of the Impact of Health on Economic Growth, Issues in Political Economy. 14(1), 1-17.
• ALMUTAIRI, N. T. (2023), Does Investment in Human Capital via Education Stimulate Economic Growth in an Oil-Rich Country? A Case Study of Saudi Arabia, Journal of the Knowledge Economy, https://doi.org/10.1007/s13132-023-01265-1
• ALTINOK, N., & KINGDON, G. (2012). New Evidence on Class Size Effects: A Pupil Fixed Effects Approach. Oxford Bulletion of Economics and Statistics, 74(2), 203-234.
• ARROW, K. (1962). Economic Welfare and Allocation of Resources for Invention. National Bureau of Economic Research (NBER), 609-626.
• ASTERIOU, D. & AGIOMIRGIANAKIS, G. M. (2001). Human capital and economic growth Time series evidence from Greece. Journal of Policy Modelling, 23, 481-489.
• AY, A., & YARDIMCI, P. (2008). Türkiye’de Beşeri Sermaye Birikimine Dayalı Ak Tipi İçsel Ekonomik Büyümenin Var Modeli İle Analizi (1950-2000). Maliye Dergisi, 155, 39-54.
• BALDACCI, E., CLEMENTS, B., GUPTA, S., & CUI Q. (2008). Social Spending, Human Capital, and Growth in Developing Countries. World Development, Vol. 36, No. 8, 1317–1341.
• BARRO, R. J. & MARTIN, X. S. I. (2004). Economic growth. Cambridge: The MIT Press, second edition.
• BARRO, R. J. (1991). Economic Growth in a Cross Section of Countries. The Quarterly Journal of Economics, 106(2), 407-443.
• BARRO, R. J., & LEE, J. W. (1994). Sources of economic growth. Carnegie-Rochester Conference Series on Public Policy, 40, 1-46.
• BECKER, G. S. (1962). Investment in Human Capital: A Theoretical Analysis, Journal of Political Economy, 70(5), 9-49.
• BENHABİB, J. & SPIEGEL, M.M. (1994). The Role of Human Capital in Economic Development Evidence from Aggregate Cross-Country Data. Journal of Monetary Economics, 34,143-173.
• BOARINI, R., D'ERCOLE, M. M., & LIU, G. (2012). Approaches to Measuring the Stock of Human Capital: A Review of Country Practices. OECD Statistics Working Papers 2012/04.
• BOWEN, W. G. (1964). “Assessing the Economic Contribution of Education: an Appraisal of Alternatives Approach”. The Economics Aspect Higher Education, OECD, Paris, ss. 177-201.
• CHEN, S. S., & LUOH, M. (2010). Are Mathematics and Science Test Scores Good Indicators of Labor Force Quality. Social Indicators Research, 96, 133-143.
• CHİ, W. (2008). The role of human capital in China's economic development: Review and new evidence, China Economic Review, 19, 421–436.
• CHIRWA, T. G., & ODHİAMBO, N. M. (2016). Sources of Economics Growth Zambia:An Empirical Investigation. Global Business Review, 18(2), 275–290.
• ÇALIŞKAN, Ş., KARABACAK, M. & MEÇİK, O. (2013). Türkiye’de Eğitim-Ekonomik Büyüme İlişkisi: 1923-2011 (Kantitatif Bir Yaklaşım), Yönetim Bilimleri Dergisi, 11(21), 29-48.
• DELGADO, M., HENDERSON, D., & CHRISTOPHER, F. (2014). Does Education Matter for Economic Growth? Oxford Bulletın Of Economıcs And Statıstıcs, 76 (3), 334-359.
• DENISON, E. F. (1962). Education, Economic Growth, and Gaps in Information, Journal of Political Economy, 70(5), 124-128.
• EIGBIREMOLEN, G. O., & ANADUAKA, U. S. (2014). Human Capital Development and Economic Growth: The Nigeria Experience. International Journal of Academic Research in Business and Social Sciences, 4(4), 25-35.
• ELİAS, S., & FERNANDEZ, M. D. (2000). Human Capital Investment, Income Levels and Economic Growth in Latin America Countries. 40th Congress of European Regional Science Association. Barcelona,Spain.
• ENTORF, H., & MINOIU, N. (2005). What A Difference Immigration Policy Makes: A Comparison of PISA Scores in Europe and Traditional Countries of Immigration. German Economic Review, 6(3), 355-376.
• FERTIG, M., & ROBERT, E. W. (2004). School Quality, Educational Attainment and Aggregation Bias. Economics Letters, 88, 109–114.
• FRINI, O. & MULLER, C. (2012). Demographic transition, education and economic growth in Tunisia. Economic Systems, 36, 351–371.
• GEMMELL, N. (1996). Evaluating The Impacts of Human Capital Stocks and Accumulation on Economic Growth: Some New Evidence. Oxford Bulletin of Economics and Statistics, 58 (1), 9-28.
• GHOSH, T. & PARAB, P. M. (2021), Assessing India’s productivity trends and endogenous growth: New evidencefrom technology, human capital and foreign direct investment. Economic Modelling, 97, 182-195.
• GOLDIN, C. (2014). “Human Capital”, Handbook of Cliometrics, Ed. By., Claude Diebolt ve Michael Haupert, National Bureau of Economics, 1-40.
• GROSSMAN, G. M. & HELPMAN, E. (1991). Quality Ladders in the Theory of Growth, Review of Economic Studies, 58 (1), 43-61.
• GROSSMAN, Gene M. & HELPMAN, Elhanan (1994). Endogenous Innovation in the Theory of Growth, Journal of Economic Perspectives, 8(1), 23-44.
• GYIMAH-BREMPONG, K., PADDISON, O., & MITIKU, W. (2006). Higher Education and Economic Growth in Africa. The Journal of Development Studies, 42(3), 509-529.
• HA, N. M. ve HGOC, B. H. (2022). The asymmetric effect of financial development on human capital: Evidence from a nonlinear ARDL approach, The Journal of International Trade & Economic Development, 31(6), 936-952.
• HAN, J-S, & LEEB, J-W. (2020), Demographic change, human capital, and economic growth in Korea, Japan & The World Economy, 53, 1-12.
• HANUSHEK, E. A., & KIMKO, D. D. (2000). Schooling, Labor-Force Quality, and the Growth of Nations. The American Economic Review, 90(5), 1184-1208.
• HANUSHEK, E. A., & WOESMANN, L. (2011). The Economics of International Differences In Educational Achievement. Handbook of the Economics of Education, Vol. 3, Amsterdam: North Holland, 89-200.
• HANUSHEK, E. A., & WOESSMANN, L. (2010). How Much Do Educational Outcomes Matter In OECD Countries? National Bureau of Economic Research, Working Paper 16515, 1-46.
• HANUSHEK, E. A., LINK, S., & WOESSMAN, L. (2013). Does School Autonomy Make Sense Everywhere? Panel Estiamates from PISA. Journal of Development Economics, 104, 212-232.
• HAQUE, N. & KHAN, M. A. (1997) Institutional Develpment: Skill Transference Through a Reversal of Human Capital Flight or Technical Assistance, IMF Working Paper, No: 97/89.
• HENDERSON, D. (2010). A test for multimodality of regression derivatives with an application to nonparametric growth the regression. Journal of Applied Econometrics, 25, 458-480.
• IN, F. & DOUCOULIAGOS, C. (1997). Human capital formation and US economic growth: a causality analysis. Applied Economics Letters, 4, 329-333.
• INTISAR, R. A.,YASEEN M. R., KOUSAR R., USMAN M & MAKHDUM, M. S. A. (2020). Impact of Trade Openness and Human Capital on Economic Growth: A Comparative Investigation of Asian Countries, Sustainability, 12, 1-19.
• ISLAM, M. ve ALAM, F. (2022). Influence of Human Capital Formation on the Economic Growth in Bangladesh During 1990–2019: an ARDL Approach. Journal of the Knowledge Economy, https://doi.org/10.1007/s13132-022-00998-9
• ISLAM, N. (1995). Growth Empirics: A Panel Data Approach. The Quarterly Journal of Economics, 110(4), 1127-1170.
• JOHNSON, E. (1964). The Place of Learning, Science, Vocational Training, and “Art” in Pre-Smithian Economic Thought. The Journal of Economic History, 24(2), 129-144. doi:10.1017/S0022050700060472.
• JONES, C. I. (1995). R & D-Based Models of Economic Growth. Journal of Political Economy, 103(4), 759-784.
• KALAITZIDAKIS, P., MAMUNEAS, T. P., SAVVIDES, A., & STENGOS, T. (2001). Measures of Human Capital and Nonlinearities in Economic Growth. Journal of Economic Growth, Vol. 6, 229-254.
• KARADENİZ, O., DURUSOY, S. & KOSE, S. (2007). Türkiye’de Eğitim ve Beşeri Sermaye, Gazi Kitabevi, Ankara. KARAGÜL, M. (2003). Beşeri Sermayenin Ekonomik Büyümeyle İlişkisi ve Etkin Kullanımı, Akdeniz Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, No: 5, 79-90.
• KEELEY, B. (2007), Human Capital: How What You Know Shapes Your Life, OECD Insights, OECD Publishing, Paris, https://doi.org/10.1787/9789264029095-en.
• KESİKOGLU, F. & OZTURK, Z. (2013). Relationship Between Human Capital and Economic Growth: Panel Causality Analysis for Selected OECD Countries. Journal of Economic and Social Studies, Vol. 3, No. 1, 153-162.
• KURT, D. B. & GÜVENEK, B. (2021), Beşeri Sermayenin Ekonomik Büyümeye Etkisi: Eğitim Göstergeleri İle Avrupa Birliği Ülkeleri Örneği, İşletme Ekonomi ve Yönetim Araştırmaları Dergisi, 17-39.
• KWON, D.-B. (2009). Human Capital and Its Measurement. The 3rd OECD World Forum on "Statistic, Knowledge and Policy" Charting Progress,Building Visions, Improving Life, 1-15, Busan, Korea.
• LAU, L. J., JAMISON D. T., LİU S. C., & RİVKİN S. (1993). Education and Economic Growth Some Cross-Sectional Evidence from Brazil. Journal of Development Economics, 41, 45-70.
• LE, T., GIBSON, J., & OXLEY, L. (2005). Measures of Human Capital: A Review of the Literature. Treasury Working Paper Series,New Zeland Treasury, 1-55.
• LEİTE, D. W. and CARDOSO, L. C. B. (2023). Human Capıtal And Technology In The Growth Of Economıc Structure, Investigación Económica, Vol. 82, No. 323 (INVIERNO 2023), 27-52.
• LUCAS, R. E. Jr. (1988). “On the Mechanics of Economic Development”, Journal of Monetary Economics, 22, 3-42.
• MAASOUMI, E., RACINE, J., & STENGOS, T. (2007). Growth and convergence: a profile of distribution dynamics and mobility. Journal of Econometrics, 136, 483-508.
• MABROUKI, M. (2022). Patent, Education, Human Capital, and Economic Growth in Scandinavian Countries: a Dynamic Panel CS-ARDL Analysis. Journal of the Knowledge Economy, https://doi.org/10.1007/s13132-022-01001-1
• MANDAL, B., BATINA, R. G., & CHEN, W. (2018). Do gender gaps in education and health affect economic growth?A cross-country study from 1975 to 2010. Health Economıcs Letter WILEY, 27, 877-886.
• MANGA, M., BAL, H., KANDIR, E. D., & ALGAN, N. (2015). BeĢeri Sermaye,Fiziksel Sermaye ve Ekonomik Büyüme ĠliĢkisi: Brics Ülkeleri ve Türkiye Örneği. Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 24(1), 45-60.
• MANKİW, N. G., ROMER, D., & WEİL, D. N. (1992). A Contribution to the Empirics of Economic Growth. The Quarterly Journal of Economics, Vol. 107, No.2, 407– 437.
• MARX, K. (1977). Ücretli Emek ve Sermaye, (çev. Çağdaş Tülek). İstanbul: Kor Kitap Yayınları.
• MENGESHA, Z. D. & SINGH, L. (2023). Human capital accumulation and economic growth of Ethiopian economy, African Journal of Science, Technology, Innovation and Development, 15(2), 211-226.
• MINCER, J. (1958). Investment in Human Capital and Personal Income Distribution. Journal of Politic Economy, 281-302.
• MINCER, J. (1974). Schooling, Experiences and Earnings. Newyork: Columbia University Press.
• MUHAMMED, S., OKAFOR V. C., ITODO I. C. ve OKECHUKWU, N. M. (2023). Economic Growth Induction through Human Capital Development in Nigeria, Indiana Journal of Economics and Business Management, 3(1), 1-7.
• MULLIGAN, C. B. & SALA-I-MARTIN, X. (1993). Transitional Dynamics in Two-Sector Models of Endogenous Growth, The Quarterly Journal of Economics, 108(3), 729-773.
• MUSHKIN, S. J. (1962). Health as an Investment. Journal of Political Economy, 70(5), 129-157.
• NAIR, M., PRADHAN R. P. & ARVIN, B. A. (2020). Endogenous dynamics between R&D, ICT and economic growth: Empirical evidence from the OECD countries. Technology in Society, 62, 1-12.
• NEDIĆ, V., TURANJANIN, D. & CVETANOVIĆ, S. (2020). Empirical Investigation of the Impact of Tertiary Education on the Economic Growth of the European Union Countries. Economic Analysis, 53(1), 163-178.
• NEYCHEVA, M. & JOENSEN, K. (2019). Higher Educational Attainment for Growth: The MRW Model for Iceland, Scandınavıan Journal Of Educatıonal Research, 63(3), 301-316.
• NUREYEV R. (2008). Kalkınma Ekonomisi: Piyasa Ekonomisinin Oluşumu ve Modernleşme Modeli, 2. Baskı, Moskova: Norma Yayıncılık, s. 367
• OECD (2001). The Well-Being of Nations: The Role of Human and Social Capital. Education and Skills. Paris, France.
• OECD (2023). https://www.oecd.org/economy/human-capital/#:~:text=What%20is%20human%20capital%3F,helps%20them%20to%20be%20productive.
• OXLEY, L., THİ LE, T. & GİBSON, J. (2008). Measuring Human Capital: Alternative Methods and International Evidence. Korean Economic Review, 283-344.
• OYİNLOLA M. A., ADEDEJI, A. A. & ONITEKUN, O. (2021). Human capital, innovation, and inclusive growth in sub-Saharan African Region. Economic Analysis and Policy, 72, 609-625.
• PEGKAS, P., & TSAMADIS, C. (2017). Are There Separate Effects of Male and Female Higher Education on Economic Growth? Evidence from Greece. Journal of the Knowledge Economy, 8, 279–293.
• PEREIRA, J & AUBYNB, M. (2009). What level of education matters most for growth? Evidence from Portugal, Economics of Education Review, 28, 67–73.
• PHİLIPPIS, M. & ROSSI, F. (2021). Parents, Schools and Human Capital Differences across Countries. Journal of the European Economic Association, 19(2), 1364–1406.
• POMI, S. S., SARKAR S. M. & DHAR B. K. (2021), Human or physical capital, which influences sustainable economic growth most? A study on Bangladesh, Canadian Journal of Business and Information Studies, 3(5), 101-108.
• PRITCHETT, L. (1996). Where Has All the Education Gone? The World Bank Economic Review, 15(3), 367-391.
• REBELO, S. T. (1991). Long Run Policy Analysis and Long-Run Growth. Journal of Political Economy , 500-521.
• ROMER, P. M. (1989). Human capital and growth: theory and evidence (NBER Working Paper Series, 3173). Cambridge, MA: National Bureau of Economic Research. 1-41.
• ROMER, P. M. (1990). Endogenous Technological Change, Journal of Political Economy, 98(5), 71-102.
• ROMER, P. M. (1994). "The Origins of Endogenous Growth." Journal of Economic Perspectives, 8 (1): 3-22.
• ROMER, Paul M. (1986). Increasing Returns and Long-Run Growth , Journal of Political Economy, 94(5), 1002-1037.
• SAXTON, J. (2000). Investment in education: Private and public returns. In Washington DC: Joint Economic Committee, United States Congress.
• SCHULTZ, T. W. (1961). Investment in Human Capital, The American Economic Review, 51(1), 1-17.
• SCHUMPETER, J. A. (1942) Capitalism, Socialism and Democracy. 36, Harper & Row, New York, 132-145.
• SELF, S & GRABOWSKİ, R. (2003), Education and long-run development in Japan, Journal of Asian Economics, 14, 565–580.
• SERİFOĞLU, M. M. (2020). The Relationship Between Human Capital and Economic Growth For Selected Countries. Doktora Tezi, Hacettepe University Graduate School of Social Sciences, Ankara.
• SMITH, A. (1776). An Inquiry into the Nature and Causes of the Wealth of Nations, History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number smith1776.
• SMITH, A. (2006). Milletlerin Zenginliği. H. Derin ve G. Kazgan (çev.), İstanbul: İş Bankası Yayınları (orijinal basım tarihi: 1771).
• SULTANA, T., DEY, S. R. and TAREQUE, M. (2022). Exploring the linkage between human capital and economic growth: A look at 141 developing and developed countries, Economic Systems, 46(3).
• THUROW, L. C. (1970). Investment in Human Capital, Wardsworth Publishing Company, California.
• WANG, Y., & LİU, S. (2016). Education,Human Capital and Economic Growth:Empirical Research on 55 Countries and Regions. Theoretical Economics Letters, 6, 347-355.
• WÖßMANN, L. (2003). Specifying Human Capital. Journal of Economic Surveys, 17(3), 239- 270.
• YUMUŞAK, İ. G. (2008). Beşeri Sermayenin İktisadi Önemi ve Türkiye'nin Beşeri Sermaye Potansiyeli. Sosyal Siyaset Konferansları Dergisi, Cilt 55, 3-48.
• ZHANG X. & WANG X. (2021). Measures of human capital and the mechanics of economic growth. China Economic Review, 68, 1-18