Investment in Human Capital, Migration and Economic Growth

Abstract

Human capital is an integral part of production and a determinant of the rate of invention and innovation. The stock of and investment in the development of human capital, combined with social capital and institutions, that is, the intangible infrastructure, are contributors to economic growth due to the increasing returns associated with them. Human capital based economic growth depends on an increasing stock of knowledge and competencies and investment in education and training and an increase in the proportion of the population, both male and female, with the required qualifications. An economy that is unable to meet demand for the relevant required qualifications and competencies, in terms of quantity and quality, is likely to limit its capacity for growth. Human capital in the basis for endogenous economic growth and investment in human capital formation increases productivity.KeywordsHuman CapitalMember StateForeign Direct InvestmentTertiary EducationContinuous Professional DevelopmentThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.