MECHANISMS OF THE INFLUENCE OF HUMAN CAPITAL ON ECONOMIC GROWTH: A PANEL DATA ANALYSIS OF THE CEMAC REGION
Journal Title: Asian Economic and Financial Review - Year 2014, Vol 4, Issue 5
Abstract
This paper examines the mechanisms through which human capital influences economic growth in the CEMAC region. The effect of human capital on economic growth was estimated using Two Stage Least Square (2SLS) multiple regression model for the individual countries and the method of Generalized Least Square for the whole sub region. The results show that secondary education improves human capital development. A good health system strengthens/increases the quality of capital. Knowledge acquired on the job increases the productivity of the workers and the accumulated human capital significantly impacts positively on the economic growth of the CEMAC region.
Authors and Affiliations
Ongo Nkoa B. Emmanuel| Department of Economics and Management, Faculty of Social and Management Sciences, University of Buea, Cameroon Member of LARAE, Buea Cameroon, Vukenkeng Andrew Wujung| Department of Economics and Management, Faculty of Social and Management Sciences, University of Buea, Cameroon, Seppo Martin P. Emmanuel| Department of Economics and Management, Faculty of Social and Management Sciences, University of Buea, Cameroon
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