Document Type : Research Paper
Abstract
The production of a country can be achieved by accumulation and interaction of three species of capital considered. First, physical capital through improvements in quality of tools and machinery, labor productivity increases and thereby improve welfare, Second, the human capital that will be realized in the form of skills, education and training and Third, social capital by facilitate, expedite and reduce the cost of economic exchange increase the productivity. accordingly and given the importance of increasing productivity in growth and economic development, this paper investigate the effect of variables: growth rate of gross fixed capital as an indicator of physical capital, the rate of literacy (literacy and education coverage) as an indicator of human capital and international risk index (ICRG) as an indicator of social capital on total factor productivity, using ARDL model over the period 1992-2009 has been paid. According to the results obtained of the estimation model, Physical capital has no significant effect on productivity, but human and social capitals are important factors in increasing productivity and have significantly, positive effects impact on productivity in short-run and also long-run.
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