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Labour productivity, hzuman Capital and RD Expenditure

Abstract:

This research shows evidence of the relationship between investment in research and development, as well as human capital, in labor productivity per worker. To show this relationship, information from 67 countries was used, classified according to income in countries with high, middle and low income. The results show that investments in research plus development (RD) and human capital have a direct effect on labor productivity; the effect is higher in low-income countries. As a recommendation, we highlight the importance of human capital accumulation and RD spending, since a productive economy tends to develop due to the effects of increasing returns that are the result of an economy at scale.