The role of human capital in economic growth of Hung Yen province


Authors

  • Nguyen Quang Hiep University of Finance and Business Administration
DOI: https://doi.org/10.57110/vnu-jeb.v5i5.445

Keywords:

Labor force, economic growth, human capital

Abstract

The article empirically studies the role of human capital in economic growth of Hung Yen province. Human capital is measured through three indicators: adult literacy rate, budget expenditure on education and trained labor rate. The research results show that trained labor rate is an important factor, directly acquiring and applying scientific and technological advances, new technologies, and using other resources in production. The research has no basis to conclude on the role of adult literacy rate on economic growth of Hung Yen province. Meanwhile, budget expenditure on education has an opposite impact on economic growth of Hung Yen province in the short term, although the impact level is quite small. In addition, the factor of average income per capita has a strong positive impact on economic growth of Hung Yen province in the short term. The estimation results also show that there is an error correction mechanism and a long-term equilibrium relationship between economic growth and factors in the model.

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25-10-2025

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Nguyen Quang Hiep. (2025). The role of human capital in economic growth of Hung Yen province. VNU JOURNAL OF ECONOMICS AND BUSINESS, 5(5), 109. https://doi.org/10.57110/vnu-jeb.v5i5.445

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Vol. 5 No. 5

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Original Article

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