The impact of human capital on economic growth

Abstract

The topic of human capital examines the human capital in the modern economy as a factor in economic growth. For economic theorists, the significance of human capital, its development and necessity for the country has become one of the most important subjects of the discussion, since a modern state developed without a well-educated minded person, will no longer be able to grow economically. The purpose of this article is to examine the impact of human capital on the Lithuanian economy. Obtained tasks: to analyze human capital in the context of economic growth, to determine whether there is a possible connection between the human capital and economic growth balance, and to provide the results of the statistical survey, the description and interpretation of its data. In the current study, the following research methods are applied: scientific literature analysis, correlation - regression analysis, multiple regression analysis. The obtained results showed that human capital directly contributes to the growth of Lithuania's economy through education and health expenditure.