The role of the human capital in the economy is highlighted in several studies of human capital,
endonegneous growth and macroeconomic literature. A special part of this literature is dedicated
to the mechanism and the various channels through wich human capital influences economic
growth. As expression of the macroeconomic performance, the labour productivity depends on
the accumulation of human capital in the economy. To analyze and discuss this dependency is
essential for appropriate human capital policies aiming to stimulate the human capital
accumulation in the economy and the enhancement of the labour productivity.
The paper explores the link between labour productivity and the estimates of the human capital
stock in the EU countries.