Despite different attitudes, Most economists stressed on the importance of human capital ,and its positive impact on the economic development process and the effectiveness of the physical production elements, these elements may not have that functionality without the human element. Thus, the human capital within education cycle education in capital formation is the most productive elements that can contribute to economic development.
Economic growth theories suggest that technical progress increases in the long term and technical progress rapidly when a better educated workforce, hence the human capital information helps in technical progress and is a source of sustainable development. Moreover, current study aims to identify the human capital and the importance of investing in education, and how to build human capital formation by investing in people through education in Kurdistan region-Iraq. Besides, verify the hypothesis which suggests that increased spending in education contributes to the development of human capital being provides the basis for individual breakthrough by developing his skills and creativity to achieve economic and social development goals, and that expenditure on education in Kurdistan-Iraq achieved a marked quantitative change but did not play its role in developing human capital.
State Investment in Higher Education: Effects on Human Capital Formation, Student Debt, and Long-Term Financial Outcomes of Students