Human Capital and Economic Growth : an Empirical Evidence of India

Swati Upveja, Dr. Swati Shastri

Abstract


The main purpose of the study was to examine the causality between human capital and economic growth of the economy. For this purpose human capital index is developed using education and health variables. And VECM (Engel-Granger) technique was used to find the long run and short run association between human capital and economic growth. And the result shows the existence of long run causality between economic growth and human capital indices. Thus it shows that in long run education and health both have influences on economic growth. So policymakers should pay critical attention towards human capital along with physical capital. And moreover the results for the chosen period are in line with the human capital theories, having a positive effect on economic growth.


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ISSN : 2251-1555