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_aRona O. Navarro, Irene Mae O. Porras, Matthew Freddy A. Racadio, Glen Mark C. Ramos
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_aAn analysis on the impact of human capital development on economic growth in the Philippines
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_cRona O. Navarro, Irene Mae O. Porras, Matthew Freddy A. Racadio, Glen Mark C. Ramos
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_a36 pages
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_aResearch Paper: (BSBA major in Business Economics) - Pamantasan ng Lungsod ng Maynila, 2021
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_aAbstract Economists have noted that human capital development usage are critical to a country's economic growth and argued that human capital is a critical component in turning all resources for the benefit of humanity. The study presents the impact of human capital development on economic growth in the Philippines. It assessed the Philippines' human capital development and economic growth by adopting the MWR theoretical framework and Gary Becker's Human Capital Theory supported by Endogenous Growth Theory. This study used the data covering the period of 1994 to 2019, considering variables such as current expenditure, school enrollment, and government expenditure. The findings showed a positive and significant relationship between human capital development and economic growth in the Philippines. Improvements in school enrollment, increase in health expenditure, and government expenditure for education affects a country's long-term economic performance. Keywords: Human capital, economic growth, MWR Human Capital Theory, health Endogenous Growth Theory, education, expenditure, Philippines.
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