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. The three worlds that emerge from the analysis are: 1) human capital investment and MFP growth dominant Nordic social … market economies (SMEs); 2) physical capital investment and labor productivity growth-dominant liberal market economies (LMEs … Nordic-type human capital investment path driven by high MFP growth, and the LME-type market-centered path powered by fixed …
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This study estimates the effects of human capital underutilization on economic growth and productivity. This paper investigated the relationship between underutilization of human capital and economic growth using a variety of econometric tests like the Augmented Dickey Fuller test, the Johansen...
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