The influence of human capital on economic growth: Analysis of the central region of Peru

This article explores the impact of human capital on the process of economic expansion of Peru’s central region between 2009 and 2022, using data from INEI and MEF. A non-experimental design with panel data was applied, along with two econometric approaches: The Feasible Generalized Least Squares estimation method (FGLS) as well as the Generalized Least Squares (GLS) estimation, which was used to analyze how human capital stock and investment influence real GDP. The analyzed dimensions were education and health, measured through institutional indicators, teaching staff, health coverage, and public expenditure. The results reveal positive and significant effects, with the models explaining 82% and 78% of GDP variability, highlighting public spending on education as the main determinant. In summary, human capital—both in terms of stock and investment—constitutes an essential factor in regional economic growth, reinforcing the need to strengthen public and economic policies in Peru’s central macro-region.