Unlocking Human Capital Key to Economic Growth and Technological Advancements
The researchers studied how human capital accumulation affects long-term economic growth. They found that the level and rate of human capital accumulation have a positive impact on economic growth, especially in countries with advanced technology. The distance to the technological frontier significantly influences the relationship between human capital accumulation and economic growth. By considering these factors, the "human capital puzzle" is partially solved, showing that human capital plays a crucial role in driving economic development.