Study of Human Capital Development, Economic Indicators and Environmental Quality

Mayis G. Gulaliyev, Rashad S. Muradov, Leyla A. Hajiyeva, Hijran R. Muradova, Konul A. Aghayeva, Elnur S. Aliyev

Ekoloji, 2019, Issue 107, Pages: 495-503, Article No: e107023

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Abstract

This paper has structured the simultaneous equations including the human capital development, economic indicators and environmental quality in the period from 2002 to 2016. Acknowledging the economic value of services helps to understand that we are part of nature and have a duty to live responsibly. Human capital is widely viewed as playing an essential role in the creation of wealth and economic growth, however, our understanding of the relationship between environmental quality and other elements of human capital is just emerging. There is a strong correlation between the GDP / Oil Price and human capital expenditures (r = 0.83). Correlation between the state spending on human capital development and the GDP growth (r = 0.995) is higher than if the first variable was family spending (r = 0.9). There is a strong inverse interrelation between the level of poverty is society and total expenditure aimed at human capital (r = -0.95). The hypothesis saying that investment in human capital return in 2-4 years was not exactly true. From the econometrical result, it is concluded that there is a significantly negative relationship between environmental quality and the imbalance of economic indicators; the improvement of human capital can reduce the detrimental effects from the differences in income distribution and better the environmental quality.

Keywords

human capital, environmental quality, revenues of population, developing economy, autocorrelation analysis

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