Různé způsoby měření lidského kapitálu a jejich vliv na ekonomický růst

Abstract

This diploma thesis examines the relationship between different approaches to measuring human capital and economic growth. The aim of the thesis was to determine how the choice of human capital indicator affects the results of empirical analysis. The theoretical part defines the concept of human capital, its place within economic growth theories and also includes a description of economic growth models relevant to the topic of the thesis. The following chapter presents a review of empirical studies examining the relationship between human capital and economic growth. The analytical part of the thesis is based on a modified Lucas model with physical and human capital. Using the ordinary least squares method, four models are estimated, differing in the human capital indicator used. These indicators are government expenditure on education, the share of persons with tertiary education, harmonized test scores, and expected years of schooling. Based on the selected year, the analysis is conducted on a cross-sectional dataset of countries, which are further divided into a group of developed countries and a group of developing and emerging economies.