Human capital, economic growth and employment: Empirical evidence from Central and Eastern Europe
Human capital, economic growth and employment: Empirical evidence from Central and Eastern Europe

Summary/Abstract: The purpose of this article is to examine the impact of human capital systems (science, healthcare, and education) on economic growth and employment in the new Member States of the European Union from Central and Eastern Europe - Bulgaria, Romania, Czech Republic, Poland, Hungary, Slovakia, Slovenia, Croatia, Lithuania, Latvia, and Estonia. The empirical analysis uses regression by the method of least squares and annual data from Eurostat for the period 2013 – 2023. The results of the analysis show that the increase in expenditure on research and development increases the employment rate and the rate of real economic growth in the NMS-11. The increase in the share of the population with tertiary education increases the employment rate but does not affect the economic growth in the NMS-11. The increase in healthcare expenditure slows down the rate of economic growth but does not affect the employment rate in the new EU Member States from CEE.

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