IDEAS home Printed from https://ideas.repec.org/a/cbu/jrnlec/y2015v4p190-197.html
   My bibliography  Save this article

Human Capital And Its Influence On Economic Development. The Case Of Romania

Author

Listed:
  • MICULESCU ANDRA

    (FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, WEST UNIVERSITY OF TIMISOARA)

  • MONICA BOLDEA

    (FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, WEST UNIVERSITY OF TIMISOARA)

Abstract

The present paper had as starting point the idea according to which human capital and investment in human capital, and respectively investment in education, can be considered key determinant of economic growth and development. Our paper draws attention to the conditions necessary so that the effects of education on human capital development and economic development should record maximum values. The paper emphasizes the idea that investments in education become ineffective unless accompanied by a suitable and appropriate strategy for economic and social development, based on socio-economic and political stability, and by the existence of a direct relationship between income, occupation and level of education and professional training. Our analysis also involves the concepts of social capital and psychological capital, both being considered as influencing development theory, practice and policy; although they bring about less clear and direct results, these two forms of capital are considered to improve the economic activity background in a way similar to technical infrastructure; social capital influences the quality of education and health, facilitates access of individuals to markets, supports complex operations and enables the activities’ long-term planning. The paper draws attention to the multidimensional character of the economic development, considering that economic development can therefore express all quantitative, qualitative and structural transformations occurring both within economic processes and along scientific research and manufacturing technologies, in the mechanisms regarding the operation of the economy, namely thinking patterns and the behavior of individuals. On the other hand, the New Economy is described synonymous with a knowledge economy in the broader context of the knowledge society - considering the knowledge based economy, knowledge representing an important factor in determining economic growth.

Suggested Citation

  • Miculescu Andra & Monica Boldea, 2015. "Human Capital And Its Influence On Economic Development. The Case Of Romania," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 190-197, August.
    • Handle: RePEc:cbu:jrnlec:y:2015:v:4:p:190-197
    as

    Download full text from publisher

    File URL: http://www.utgjiu.ro/revista/ec/pdf/2015-04/28_Miculescu,%20Boldea.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Luthans, Fred & Luthans, Kyle W. & Luthans, Brett C., 2004. "Positive psychological capital: beyond human and social capital," Business Horizons, Elsevier, vol. 47(1), pages 45-50.
    2. Paldam, Martin & Svendsen, Gert Tinggaard, 2000. "An essay on social capital: looking for the fire behind the smoke," European Journal of Political Economy, Elsevier, vol. 16(2), pages 339-366, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Cenar Iuliana, 2016. "Social Accounting Aspects In The Preuniversity Level Reimbursement Of Students," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 85-92, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gylfason, Thorvaldur & Hochreiter, Eduard, 2009. "Growing apart? A tale of two republics: Estonia and Georgia," European Journal of Political Economy, Elsevier, vol. 25(3), pages 355-370, September.
    2. Maciej Jagódka & Małgorzata Snarska, 2021. "The State of Human Capital and Innovativeness of Polish Voivodships in 2004–2018," Sustainability, MDPI, vol. 13(22), pages 1-20, November.
    3. Pettersson, Jan, 2003. "Democracy, Consolidation and Growth," Research Papers in Economics 2002:16, Stockholm University, Department of Economics, revised 15 Dec 2004.
    4. Dan Kan & Xiaosong Yu, 2016. "Occupational Stress, Work-Family Conflict and Depressive Symptoms among Chinese Bank Employees: The Role of Psychological Capital," IJERPH, MDPI, vol. 13(1), pages 1-11, January.
    5. Mohd Hizam Hanafiah, & Sheikh Usman Yousaf, & Bushra Usman,, 2017. "The influence of psychological capital on the growth intentions of entrepreneurs: A study on Malaysian SME entrepreneurs," Business and Economic Horizons (BEH), Prague Development Center, vol. 13(5), pages 556-569, December.
    6. Massimiliano Mazzanti & Giulio Cainelli & Susanna Mancinelli, 2005. "Social Capital, R&D and Industrial Districts," Working Papers 2005.84, Fondazione Eni Enrico Mattei.
    7. Mahto, Raj V. & Llanos-Contreras, Orlando & Hebles, Melany, 2022. "Post-disaster recovery for family firms: The role of owner motivations, firm resources, and dynamic capabilities," Journal of Business Research, Elsevier, vol. 145(C), pages 117-129.
    8. Antoci Angelo & Sabatini Fabio & Sodini Mauro, 2009. "Will growth and technology destroy social interaction? The inverted U-shape hypothesis," wp.comunite 0057, Department of Communication, University of Teramo.
    9. Cheng-Yi Luo & Chin-Hsun (Ken) Tsai & Ming-Hsiang Chen & Jun-Li Gao, 2021. "The Effects of Psychological Capital and Internal Social Capital on Frontline Hotel Employees’ Adaptive Performance," Sustainability, MDPI, vol. 13(10), pages 1-19, May.
    10. Nasser Saad Alkahtani & M. M. Sulphey & Kevin Delany & Anass Hamad Elneel Adow, 2021. "A Conceptual Examination about the Correlates of Psychological Capital (PsyCap) among the Saudi Arabian Workforce," Social Sciences, MDPI, vol. 10(4), pages 1-16, March.
    11. Paolo Buonanno & Daniel Montolio & Paolo Vanin, 2009. "Does Social Capital Reduce Crime?," Journal of Law and Economics, University of Chicago Press, vol. 52(1), pages 145-170, February.
    12. Susanne Jensen & Gert Tinggaard Svendsen, 2016. "Social Trust, Safety and the Choice of Tourist Destination," Business and Management Horizons, Macrothink Institute, vol. 4(1), pages 1-9, June.
    13. Nasser Saad Al Kahtani & Sulphey M. M., 2022. "A Study on How Psychological Capital, Social Capital, Workplace Wellbeing, and Employee Engagement Relate to Task Performance," SAGE Open, , vol. 12(2), pages 21582440221, May.
    14. Schiff, Maurice, 2002. "Love thy neighbor: trade, migration, and social capital," European Journal of Political Economy, Elsevier, vol. 18(1), pages 87-107, March.
    15. Primrose Madende & Johannes I. F. Henning & Henry Jordaan, 2023. "Accounting for Heterogeneity among Youth: A Missing Link in Enhancing Youth Participation in Agriculture—A South African Case Study," Sustainability, MDPI, vol. 15(6), pages 1-22, March.
    16. Thorvaldur Gylfason & Gylfi Zoega, 2006. "Natural Resources and Economic Growth: The Role of Investment," The World Economy, Wiley Blackwell, vol. 29(8), pages 1091-1115, August.
    17. Delia Vîrgă & Elena-Loreni Baciu & Theofild-Andrei Lazăr & Daria Lupșa, 2020. "Psychological Capital Protects Social Workers from Burnout and Secondary Traumatic Stress," Sustainability, MDPI, vol. 12(6), pages 1-16, March.
    18. Séverine Chevalier & Isabelle Calmé & Hélène Coillot & Karine Le Rudulier & Evelyne Fouquereau, 2022. "How Can Students' Entrepreneurial Intention Be Increased? The Role of Psychological Capital, Perceived Learning From an Entrepreneurship Education Program, Emotions and Their Relationships," Post-Print hal-03633580, HAL.
    19. Yoshitaka Yamazaki, 2012. "Learning style and confidence: an empirical investigation of Japanese employees," Working Papers EMS_2012_09, Research Institute, International University of Japan.
    20. Miguel Cunha & Arménio Rego & Antonino Vaccaro, 2014. "Organizations as Human Communities and Internal Markets: Searching for Duality," Journal of Business Ethics, Springer, vol. 120(4), pages 441-455, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cbu:jrnlec:y:2015:v:4:p:190-197. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ecobici Nicolae (email available below). General contact details of provider: https://edirc.repec.org/data/fetgjro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.