Impact of education and economy to global human capital
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Keywords

human capital
education
economy
bipolar analysis
regression analysis

Abstract

This study determined the education and economic factors that influence the human capital which is the collective knowledge and skills of individuals to create economic value. Data gathered were from the World Economic Forum 2017. Top thirty (30) and bottom (30) ranking countries were utilized in this exploratory study. Bipolar analysis through forced clustering of data, and formal testing of statistical hypotheses through t-tests and regression analysis were used in the study. Results showed that top ranking countries in terms of human capital have higher income, more tertiary education graduates, more employment, have very good educational system and more secondary education graduates than the bottom ranking countries. The five (5) variables are statistically significant on the total development of the human capital. However, further analysis revealed that being a secondary and tertiary graduate from a well establish educational system with employment influenced the human capital of a country. Thus, acquiring knowledge and skills through well establish education can produce higher human capital of a country which in turns increase its economy.

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