Human Capital Expansion in the Form of Formal Education: A Key Promoter of Individual, National, and Regional Economic Growth and Development

This conceptual study presents an overview of the major factors contributing to national economic growth and development and establishes human capital expansion as a pre-condition for economic growth. By systematically identifying, synthesizing, and critically analyzing relevant literature, this study proposes the implementation of industrial policies geared toward the development of human capital, through investments in formal education, with the purpose of promoting economic growth and development at the individual, national, and regional levels.