Beşeri sermaye ve ekonomik büyüme arasındaki simetrik ve asimetrik nedensellik ilişkisi

The aim of the study is to examine the relationship between human capital and economic growth in Turkey. The study uses the variables of real Gross domestic product, capital stock, labor and human capital by employing the Hacker and Hatemi-J (2006) symmetric causality test, second step followed by Hatemi-j (2012) asymmetric causality test and analysis of Hatemi-J (2011) impulse-response function analysis over the period of 1950 to 2014. The study, overall, finds that there is no causality between the variables, however asymmetric causality test shows that there is causality from physical capital to GDP and from human capital to GDP. Negative shock on physical capital affect GDP with same direction whereas, negative shock on human capital affect GDP oppositely. Moreover, asymmetric impulse response analysis shows that an increase in negative shock on physical capital affect increase in negative shock on GDP until two period, however an increase in negative shock on human capital reduces positive shock on GDP for three periods. Empirical results suggest that the policymakers should consider the asymmetric causality between the macroeconomic variables and the economic activity when they evaluate any policy.