Investment in human capital produces a well-informed workforce that facilitates savings mobilisation into capital formation, further raising economic development. The current study explores how financial progress and economic growth contribute to human capital development in Asia using a pooled mean group estimation method on the data extracted from World Bank databases. The findings depict that economic prosperity and financial progress positively drive intellectual capital development by strengthening human assets in Asia. The study contributes to the existing literature, highlighting the role of macroeconomic factors in shaping human capital and offers policy measures suggesting the formulation of robust growth strategies that prioritise the upgrading of the education sector. Whereas the financial sector should adopt liberal credit policies to encourage private investment in human capital development infrastructure. Such a dual system can create a sustainable ecosystem for enhancing intellectual capital in Asia.
Dahiya et al. (Wed,) studied this question.
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