Human Capital Formation as an Influential Variable in Mexico's Economic Growth
Keywords:
Human capital, Economic growth, GDP, GDP per cápitaAbstract
During the last decades, Mexico's educational indicators have been constantly improving, while the growth rate has remained low, being 1.89% measured through GDP and 0.57% with respect to GDP per capita, between 2000 and 2019. In order to provide additional empirical evidence to the understanding of the relationship between human capital and economic growth, this paper estimates growth equations for the period 2005-2019. The main contribution of the paper is the use of a group of human capital indicators that capture its qualitative aspects and that have not been exploited in the literature on the subject in Mexico, which has concentrated on testing mainly quantitative educational indicators. The results show that the indicators used are statistically significant and have the expected sign, which confirms the importance of quality when measuring the effects of human capital.
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