Human capital and its Impact on Economic Growth in the GCC Countries

  • Bader Hamdan Palestine University (Palestine)
  • Ibtissam Ali Hussean Middle Technical University (Iraq)
  • Fateh Serdouk El Oued University (Algeria)
Keywords: Human capital, economic growth, economic openness, Hausmann's test

Abstract

The study amied at estimating the role HD on economic development in the Arab countries during the period 1990- 2019, The study used panel data approach in Countries of the Gulf Cooperation Council: (Saudi Arabia, United Arab Emirates, Bahrain, Qatar, Oman, and Kuwait). The study applying three models are: Pooled Regression Model (PRM), Fixed Effects Model (FEM), Random Effects Model (REM), and the preference among the previous models were used two tests: Lagrange Multiplier test (LM) to choose between pooled regression model and model effects model, and Hausman test to choose between the fixed effects model and random effects model. The study found that most important results, including the Random effects model is the best model, which found a positive and direct effect between human capital and economic growth in the countries of the Gulf Cooperation Council during the study period, The need for constant attention and focus in building and developing human capital and investing in it through training and development and improving the quality of education and research, as it has a prominent role in bringing about economic growth by increasing, improving and developing productivity. Countries of the Gulf Cooperation Council

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Published
2021-06-06
How to Cite
Hamdan, B., Ali Hussean, I., & Serdouk , F. (2021). Human capital and its Impact on Economic Growth in the GCC Countries. Roa Iktissadia Review, 11(1), 31-53. Retrieved from https://roair.info/index.php/roair/article/view/224
Section
Articles