Human Capital As A Factor Of Economic Growth

Abstract: Economic growth is known as a worldwide discussed question and the development as well; a global policy objective that dates from 1940s. On the whole it’s a long time that all countries make great efforts to determine some and possibly all factors which lead to sustainable growth and economic development. Human capital as a factor of economic growth is identified not only as a major factor but also a suitable remedy to alleviate the poverty in the world. Health care and qualified education lead to economic growth and are centered on the development of human capital. Indeed, the advent of "endogenous growth models" with human capital (providing externalities) have certainly enhanced the understanding of the mysteries of rapid and long sustainable high growth performances of East Asian economies. Using Panel data econometrics, in this study we aim to identify the effects of some important factors of economic growth specially education in some MENA, Middle East North African countries because the study of developing countries offers both policy questions of fundamental importance and reach a set of experiences to examine. Education is a social science that encompasses teaching and learning specific knowledge, benefits and skills; for economists working on education is an investment which its impact on the economic growth is so considerable. The new line of thinking is that for developing successfully a country needs to initially spend a fair amount of money on health care and education in the development process.