Authors: Aikaterini Apostolidou

Title: The role of human capital in the Greek economy and economic development

Abstract

In this paper we examine the relationship of human capital with the Greek economy and economic development. Many economists, in the last 30 years, have made efforts to determine the effect of education on the economic development of various countries and to measure its economic contribution. With a review of the international literature we find that the goal of a country's economic development is directly linked to education.

The contribution of education to economic development has been studied by economists both at the micro and macro economic level. Most studies have concluded that improving the educational level of a society is positively related to economic growth, especially in countries with a low level of education or a low level of productivity. The improvement of the human capital of societies is achieved through investment in factors such as education, health and innovation, factors that are considered particularly important for enhancing economic development.