References
Al Mamun, T.G.M., Md. Abdur, R., Bin Amin, M., Hassan, M.S., & Oláh, J. (2025). Public Sector Efficiency in Delivering Social Services and its Impact on Human Development: A Comparative Study of Healthcare and Education Spending in in Selected South Asian Countries. 50 p. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5265476&utm
Search via ReFindit
Angrist, N., Djankov, S., Goldberg, P. K., & Patrinos, H. A. (2021). Measuring human capital using global learning data. Nature, 592(7854), 403-408. https://doi.org/10.1038/s41586-021-03323-7
Search via ReFindit
Armstrong, M., & Taylor, S. (2020). Armstrong's Handbook of Human Resource Management Practice. Kogan Page Publishers, ISBN 9780749498283. https://e-uczelnia.uek.krakow.pl/pluginfile.php/604792/mod_folder/content/0/Armstrongs%20Handbook%20of%20Human%20Resource%20Management%20Practice_1.pdf
Search via ReFindit
Ataklı Yavuz, R., & Yilmaztürk, R. G. (2023). The Relationship Between Human Development and Health Expenditures: Evidence from the Driscoll-Kraay Estimator. Yönetim ve Ekonomi Araştırmaları Dergisi, 21(3), 163-175. https://doi.org/10.11611/yead.1344037
Search via ReFindit
Ayan, D. E., Haak, L. L., & Ginther, D. K. (2023). How many people in the world do research and development? Global Policy, 14(2), 270-287. https://doi.org/10.1111/1758-5899.13182
Search via ReFindit
Bassey, G. E., Ekong, U. M., & Ekpenyong, B. E. (2023). Government Expenditure and Human Capital Development in Nigeria. Advances in Social Sciences and Management, 1(1), 1-21. https://hspublishing.org/ASSM/article/view/8
Search via ReFindit
Cappelli, G., Ridolfi, L., & Vasta, M. (2023). Human Capital in a Historical Perspective. Oxford Research Encyclopedia of Economics and Finance. https://doi.org/10.1093/acrefore/9780190625979.013.520
Search via ReFindit
Carillo, M. F. (2024). Human capital composition and long-run economic growth. Economic Modelling, 137. https://doi.org/10.1016/j.econmod.2024.106760
Search via ReFindit
Chereyeva, B., Nukessheva, A., Ainakanova, B., & Kazkenova, A. (2025). The role of education in the formation of human capital. SHS Web of Conferences. 212. 04051. https://doi.org/10.1051/shsconf/202521204051
Search via ReFindit
Coman (Nuţă), A. C. Lupu, D., & Nuţă, F. M. (2022). The impact of public education spending on economic growth in Central and Eastern Europe. An ARDL approach with structural break. Economic Research-Ekonomska Istraživanja, 36(1), 1261-1278. https://doi.org/10.1080/1331677X.2022.2086147
Search via ReFindit
Coronel, V. & Díaz-Roldán, C. (2024). Government Expenditure, Education, and Productivity in the European Union: Effects on Economic Growth. Economics, 18(1), 20220081. https://doi.org/10.1515/econ-2022-0081
Search via ReFindit
Diakodimitriou, D., Tsioutsios, A., & Papageorgiou, T. (2025). Education Expenditures and Growth: Is R&D the link? Journal of Policy Modeling, 47(2), 322-337. https://doi.org/10.1016/j.jpolmod.2025.01.003
Search via ReFindit
Diebolt, C., & and Hippe, R. (2019). The long-run impact of human capital on innovation and economic development in the regions of Europe. Applied Economics, 51(5), 542-563. https://doi.org/10.1080/00036846.2018.1495820
Search via ReFindit
Diebolt, C., & Hippe, R. (2019). The long-run impact of human capital on innovation and economic development in the regions of Europe. Applied Economics, 51(5), 542-563. https://doi.org/10.1080/00036846.2018.1495820
Search via ReFindit
Edeme, R. K., & Nkalu, C. N. (2019). Public expenditure and human development in Nigeria in the last decade, composition and distributional impacts. Economics and Business Letters, 8(2), 62-73. https://doi.org/10.17811/ebl.8.2.2019.62-73
Search via ReFindit
Ederer, P., Schuler, P., & Willms, S. (2020). The European Human Capital Index: The Challenge of Central and Eastern Europe. Lisbon Council Policy Brief. 28 p. https://lisboncouncil.net/wp-content/uploads/2020/08/European-Human-Capital-Index-CEE.pdf
Search via ReFindit
Erasmus, E. G. (2021). Public expenditure and human capital development in Nigeria. Journal of Accounting and Financial Management, 7(2), 26-43. https://www.iiardjournals.org/get/JAFM/VOL.%207%20NO.%202%202021/Public%20Expenditure%20and%20Human.pdf
Search via ReFindit
Eurostat. (2025). Database. https://ec.europa.eu/eurostat/web/main/data/database
Search via ReFindit
Evanoff. M. (2021). Human Capital. London: Kindle Edition. 192 p. ISBN 978-80-6892-885.7.
Search via ReFindit
Garanin, M. (2022). Implementação de inovações nas instituições de ensino superior. Revista on Line De Política E Gestão Educacional, 26(esp.2), e022072. https://doi.org/10.22633/rpge.v26iesp.2.16571
Search via ReFindit
Gruzina, Y., Firsova, I., & Strielkowski, W. (2021). Dynamics of Human Capital Development in Economic Development Cycles. Economies, 9(2), 67. https://doi.org/10.3390/economies9020067
Search via ReFindit
Guijarro-Garvi, M., Miranda-Escolar, B., Cedeño-Menéndez, Y. T., & Moyano-Pesquera, P. B. (2022). Education as a Dimension of Human Development: A Provincial-level Education Index for Ecuador. Plos One, 17(7). https://doi.org/10.1371/journal.pone.0270932
Search via ReFindit
Harper, V. (2025). Human Capital Evaluation: A Strategic Framework for Assessing Workforce Value. London: Kindle Edition. p 269. ISBN 978-80-7895-69-8.
Search via ReFindit
Herre, B., & Arriagada, P. (2023). The Human Development Index and related indices: What they are and what we can learn from them. Our World in Data. https://ourworldindata.org/human-development-index
Search via ReFindit
Hippe, R. (2020). Human Capital in European Regions since the French Revolution: Lessons for Economic and Education Policies. Revue d’économie Politique, 130(1), 27-50. https://doi.org/10.3917/redp.301.0027
Search via ReFindit
Hudzelyak, I. (2024). Demographic development of the countries of Northern Europe: Current trends for the Ukrainian experience. Visnyk of V N Karazin Kharkiv National University-Series Geology Geography Ecology, 61, 166-179. https://doi.org/10.26565/2410-7360-2024-61-14
Search via ReFindit
Jagodka, M., & Snarska, M. (2023). Regional Disparities as a Result of Differences in Human Capital and Innovativeness on the Example of Poland. Technological and Economic Development of Economy, 29(2), 696-716. https://doi.org/10.3846/tede.2023.18536
Search via ReFindit
Julistia, I., Kurniawan, M., & Hasimi, D. (2025). The relationship between education expenditure, health expenditure and final education level towards the Human Development Index from a shariah economic perspective: evidence from 10 provinces with the lowest HDI in Indonesia. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 9(1), 46-75. https://doi.org/10.31955/mea.v9i1.4871
Search via ReFindit
Kipyego, I. (2023). Economics of Education: A Theory on Human Capital. London: Kindle Editon. p 24. ISBN 978-80-278-9265-9.
Search via ReFindit
Kousar, S., Ahmed, F., Afzal, M., & Segovia, J.E.T. (2023). Is government spending in the education and health sector necessary for human capital development? Humanities & Social Sciences Communications, 10(1), article 62, 62-11. https://doi.org/10.1057/s41599-023-01514-3
Search via ReFindit
Kucharčíková, A., Ďurišová, M. & Štaffenová, N. (2024). Implementation of the human capital management concept: an empirical study of small trading company. Humanit Soc Sci Commun, 11, 1620. https://doi.org/10.1057/s41599-024-03946-x
Search via ReFindit
Laskowska, I., & Dańska-Borsiak, B. (2016). The Importance of Human Capital for The Economic Development of EU Regions. Comparative Economic Research. Central and Eastern Europe, 19(5), Article 5. https://doi.org/10.1515/cer-2016-0038
Search via ReFindit
Leogrande, A., Costantiello, A., & Laureti, L. (2022). The impact of patent applications on technological innovation in European countries. Munich Personal RePEc Archive, 115346(13). https://mpra.ub.uni-muenchen.de/115346/1/MPRA_paper_115346.pdf
Search via ReFindit
Linhartová, V. (2020). The Effect of Government Expenditure on Human Capital in the Czech Republic. Scientific Papers of The University of Pardubice-Series D-Faculty of Economics and Administration, 28(2), 1056. https://doi.org/10.46585/sp28021056
Search via ReFindit
Maharda, J. B., & Aulia, B. Z. (2020). Government expenditure and human development in Indonesia. Jambura Equilibrium Journal, 2(2), 81-94 https://doi.org/10.37479/jej.v2i2.6901
Search via ReFindit
Malinauskaite, J., Delpech, B., Montorsi, L., Venturelli, M., Gernjak, W., Abily, M., Stepišnik Perdih, T., Nyktari, E., & Jouhara, H. (2024). Wastewater Reuse in the EU and Southern European Countries: Policies, Barriers and Good Practices. Sustainability, 16(24), 11277. https://doi.org/10.3390/su162411277
Search via ReFindit
Matei, A., & Ceche, R. (2018). Assessment of human capital and development. Contributions from structural funds. Proceedings of the 5-Th ACADEMOS Conference Development, Democracy and Society in the Contemporary World, 5, 226-231. https://ssrn.com/abstract=3201521
Search via ReFindit
Montgomery, D. C. (2017). Design and Analysis of Experiments. State University. Ninth Edition, John Wiley & Sons, New York, 640 p.
Search via ReFindit
Nachar, N. (2008). The Mann-Whitney U: A Test for Assessing Whether Two Independent Samples Come from the Same Distribution. Tutorials i Quantitative Methods for Psychology, 4(1), 13‐20. https://doi.org/10.20982/tqmp.04.1.p013
Search via ReFindit
Naros, M. S., & Simionescu, M. (2019). The Role of Education in Ensuring Skilled Human Capital for Companies. Theoretical and Empirical Researches in Urban Management, 14(1), 75-84. https://um.ase.ro/no141/4.pdf
Search via ReFindit
Nezhnikova, E. (2020). Investment in human capital as the basis for the country’s economic growth. E3S Web Conference, 164, 09046. https://doi.org/10.1051/e3sconf/202016409046
Search via ReFindit
Okafor, C. N., Ogbonna, K. S., & Okeke, C. I. (2017). Effect of government expenditure on human capital development in Nigeria. International Journal of Banking and Finance Research, 3(2), 1-14. https://www.iiardjournals.org/get/IJBFR/VOL.%203%20NO.%202%202017/Effect%20of%20Government.pdf
Search via ReFindit
Okerekeoti, CH. U. (2022). Government expenditure on education and economic growth in Nigeria. International Journal of Recent Research in Commerce Economics and Management (IJRRCEM), 9(2), 126-134. https://www.paperpublications.org/upload/book/GOVERNMENT%20EXPENDITURE-17062022-3.pdf
Search via ReFindit
Oktavianty (2024). The importance of educational expenditure toward human resources quality and economic growth: An empirical approach. International Journal of Social Science Humanity & Management Research, 3(1), 22-28. https://doi.org/10.58806/ijsshmr.2024.v3i1n04
Search via ReFindit
Olawumi, O.R. (2020). Expenditure, Human Capital Development and Economic Growth in Nigeria, 1981-2018. South-South Journal of Humanities and International Studies, 3(2), 325-350. https://ssjhis.org/wp-content/uploads/2021/07/17-Education-Expenditure-Human-Capital-Development-and-Economic-Growth.pdf
Search via ReFindit
Pagiotti, S., Stanziano, A., Mazzoni, M., & Mincigrucci, R. (2024). Interpreting or Reporting? An Analysis of Journalistic Interventionism Across Western European Countries. Journalism Practice, 18(9), 2337-2356. https://doi.org/10.1080/17512786.2024.2326988
Search via ReFindit
Patel, G., & Annapoorna, M. S. (2019). Public Education Expenditure and Its Impact on Human Resource Development in India: An Empirical Analysis. South Asian Journal of Human Resources Management, 6(1), 97-109. https://doi.org/10.1177/2322093718813407
Search via ReFindit
Paula, F. d. O., & Silva, J. F. d. (2021). R&D spending and patents: Levers of national development. Innovation & Management Review, 18(2), 175-191. https://doi.org/10.1108/INMR-11-2019-0142
Search via ReFindit
Raghupathi, V., & Raghupathi, W. (2020). Healthcare Expenditure and Economic Performance: Insights from the United States Data. Frontiers in Public Health, 8. https://doi.org/10.3389/fpubh.2020.00156
Search via ReFindit
Raghuvanshi, G., & Verma, P. (2024). Human Development Index: A Critical Review. International Journal for Multidisciplinary Research, 6(2). https://www.ijfmr.com/papers/2024/2/18146.pdf
Search via ReFindit
Railaite, R., & Čiutienė, R. (2020). The Impact of Public Health Expenditure on Health Component of Human Capital. Engineering Economics, 31(3), Article 3. https://doi.org/10.5755/j01.ee.31.3.25158
Search via ReFindit
Ramallari A., & Velaj E. (2023). The Impact of Education in Economy. The Case of Albania. Review of Economics and Finance, 21(1), 336-342. https://doi.org/10.55365/1923.x2023.21.33
Search via ReFindit
Shafuda, C.P.P., De, U.K. (2020). Government expenditure on human capital and growth in Namibia: a time series analysis. Economic Structures, 9(21), 1-14. https://doi.org/10.1186/s40008-020-00196-3
Search via ReFindit
Simmons, M. (2024). Hitting the Books: An Empirical Analysis of the Effect of Education Expenditure on GDP per Capita and Economic Growth. Empirical Economic Bulletin, An Undergraduate Journal. https://digitalcommons.bryant.edu/cgi/viewcontent.cgi?article=1240&context=eeb
Search via ReFindit
Stojanovic, N. S., & Zakic, K. (2024). Renewable energy as a connecting spot between China and Central and Eastern European countries: Status, directions and perspectives. Energy Sustainability and Society, 14(1), 10. https://doi.org/10.1186/s13705-024-00439-2
Search via ReFindit
Sultana, T., Dey, S. R., & Tareque, M. (2022). Exploring the linkage between human capital and economic growth: A look at 141 developing and developed countries. Economic Systems, 46(3), 101017. https://doi.org/10.1016/j.ecosys.2022.101017
Search via ReFindit
Tabar, F. J., Najafi, Z., & Badooei, Y. S. (2017). The impact of educational expenditures of government on economic growth of Iran. AD-minister, (30), 217-235. https://doi.org/10.17230/ad-minister.30.11
Search via ReFindit
Turgel, I.D., & Fazylzhan, D. (2023). The Concept of Human Capital: Categorical Analysis of the Evolution of Approaches. Economy: Strategy and Practice, 18(1), 180-195. https://doi.org/10.51176/1997-9967-2023-1-180-195
Search via ReFindit
Uddin, M.R., Sadik, N., & Rahman, M. (2025). Globalization, physical capital, and human capital nexus with economic growth: evidence from BIMSTEC. Research in Globalization, 2025, 10. https://doi.org/10.1016/j.resglo.2025.100284
Search via ReFindit
UNDP. (2025). Human Development Index (HDI). https://hdr.undp.org/data-center/human-development-index#/indicies/HDI
Search via ReFindit
Xu, Y., & Li, A. (2020). The relationship between innovative human capital and interprovincial economic growth based on panel data model and spatial econometrics. Journal of Computational and Applied Mathematics, 365, 112381. https://doi.org/10.1016/j.cam.2019.112381
Search via ReFindit
Yang, G., Wang, F., Huang, X., & Chen, H. (2022). Human capital inflow, firm innovation and patent mix. Journal of Asian Economics, 79, 101439. https://doi.org/10.1016/j.asieco.2021.101439
Search via ReFindit
Yu, Y., Xinxin, W., Ruoxi, L., & Tingting, Y. (2023). The Mediating Role of Human Capital in the Relationship between Education Expenditure and Science and Technology Innovation: Evidence from China. SocioEconomic Challenges, 7(1), 129-138. .129-138.2023 https://doi.org/10.21272/sec.7(1)
Search via ReFindit
Zahra Al-Hujaimi, S. A.-Z., & Al-Hashemi, N. S. J. (2021). Analysis of human capital indicators in the environment of the Iraqi economy for the period (2004–2017). International Journal of Humanities and Educational Research, 03(05), 266-280. https://doi.org/10.47832/2757-5403.5-3.24
Search via ReFindit
Zarulli, V., Sopina, E., Toffolutti, V., & Lenart, A. (2021). Health Care System Efficiency and Life Expectancy: A 140-country Study. Plos One, 16(7). https://doi.org/10.1371/journal.pone.0253450
Search via ReFindit
Ziberi, B. F., Rexha, D., Ibraimi, X., & Avdiaj, B. (2022). Empirical Analysis of the Impact of Education on Economic Growth. Economies, 10(4), 89. https://doi.org/10.3390/economies10040089
Search via ReFindit
Zogjani, J., Kovaci-Uruci, F., & Zogjani, A. (2024). The Impact of Public Education Expenditure on Economic Growth in Kosova: A Quantitative Analysis, MPRA Paper 123140, University Library of Munich, Germany, revised 2024. https://ideas.repec.org/p/pra/mprapa/123140.html
Search via ReFindit