What question did this study set out to answer?

To model and analyze the dynamic development of human capital across historical economic development cycles, ranging from early industrialization to modern knowledge economies.

May 1, 2021EconomiesOpen Access

Dynamics of Human Capital Development in Economic Development Cycles

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Authors

YGYulia GruzinaFinancial University IFIrina FirsovaFinancial University WSWadim StriełkowskiUniversity of Business in Prague

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Implication

Econometric analysis reveals that industrial revolutions actively drive human capital formation across economic cycles, highlighting transition strategies for resource-dependent nations.

Key Points

To model and analyze the dynamic development of human capital across historical economic development cycles, ranging from early industrialization to modern knowledge economies.
Formulated an econometric model based on the modified Mankiw‒Romer‒Weil specification of the Cobb‒Douglas function, incorporating divergence, convergence, and spatial-economic differentiations.
Employed the Theil index as an analytical transition key to integrate and compare dynamic time-series data across early industrial, post-industrial, knowledge, and information cycles.
Demonstrated that industrial revolutions actively drove human capital development by accelerating new technologies, job creation, productivity, and real wages, rather than treating worker development as a passive by-product.
Provided an analytical framework allowing human capital growth across distinct economic cycles to be calculated via cycle-specific formulas and compared within a unified longitudinal series.

Cite This Study

Gruzina et al. (2021) studied this question.

synapsesocial.com/papers/6a1ff2e7702b8f8c062e5fbf https://doi.org/10.3390/economies9020067

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Implication

Econometric analysis reveals that industrial revolutions actively drive human capital formation across economic cycles, highlighting transition strategies for resource-dependent nations.

Dynamics of Human Capital Development in Economic Development Cycles

Discussion

Member takes

Implication

Key Points

Cite This Study

Dynamics of Human Capital Development in Economic Development Cycles

Discussion

Member takes

Implication

Key Points

Cite This Study

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