The impact of government expenditure on education and R&D as factor of human capital on economic growth

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Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics
The Strategies of many countries are focused on three area of growth: smart, sustainable and inclusive This couldn’t be achieved without major contribution of human capital. These goals could be realized with a good education and training system a creative industries and a great effort to create a research-intensive economy. This study aims at providing a theoretical concept of human capital and its measurement. The paper tried to reveal the role of government expenditure in education and R&D as a factors of the growth human capital in Georgia and to argue that the investment in human capital should influence the sustainable development of the countries.
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Human Capital; Economic Growth; R&D Expenditure; Government Expenditure in Education; Econometric Model
International Reviewed Scientific-Analytical Journal “Ekonomisti”, 2020, #2, pp.79-85;