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September 10, 2025

Human Capital as a Determinant Factor in Leveraging Research and Development (R&D) Investment for Economic Growth

Key Points

Human capital development is vital for optimizing R&D investment and driving economic growth.
Analysis across seven emerging countries shows significant reliance on human capital for sustained economic outcomes.
Employing the Solow growth model, the study applied PCSE after addressing heteroskedasticity.
Results indicate that investing in human capital can substantially boost R&D effectiveness in developing nations.

Abstract

Human capital is essential for optimizing R&D investment and fostering economic growth, especially in developing economies. South Korea exemplifies the positive impact of robust R&D investment combined with strong human capital. This study analyzed data from seven emerging and developing countries (classified by the IMF) using the Solow growth model (Solow-Swan, 1956). After detecting heteroskedasticity, PCSE was applied to ensure result accuracy. Findings confirm that human capital development is key for these countries to capitalize on R&D and achieve sustained economic growth.

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Cite This Study

Cardona et al. (Mon,) studied this question.

synapsesocial.com/papers/68c1b60654b1d3bfb60eb041 https://doi.org/https://doi.org/10.29105/trendinomics.v1i1.5

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