Labor Productivity and Human Capital: An Interactive Model

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Bulletin of Economic Theory and Analysis
Cilt: 10 Sayı: 3
Labor Productivity and Human Capital: An Interactive Model

Labor Productivity and Human Capital: An Interactive Model

Pages : 1413-1439

View : 83 | Download : 232

Publication Date : 2025-10-29

Article Type : Research Paper

Abstract :The primary objective of the paper is to examine the hypothesis that human capital affects labor productivity directly and indirectly. The paper investigates this relationship using data from 1991 to 2019 for BRICS-T countries, with panel fixed effects and panel random effects models. Moreover, the paper employs the standard error method to examine the marginal effects of trade openness, savings, labor market reforms, and information and communication technology on labor productivity. According to the analysis results, we find strong evidence supporting the hypothesis that human capital influences not only labor productivity directly but also indirectly. The marginal effects of all variables used in the study are also found to be statistically significant.
Keywords : Emek Verimliliği, Beşerî Sermaye, İnteraktif Model, İşgücü Piyasası Reformları, Bilgi ve İletişim Teknolojileri

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