In this paper we investigate the possibilities of investing in human capital at the financial market of the Czech Republic. In particular, the conditions for this investment would be different among individuals due to the difference of bequest amount and the credit market condition in financing the money for human capital investment or education. There is also higher risk for possible investors in determining individuals\' income and in adverse selection. Our paper deals with the possibilities of avoiding these problems and we use our data from the survey of Czech universities students\' earnings expectations collected during the years 2002 - 2004. We use expected returns to education of the Czech higher education students as a benchmark for creating student loans and human capital contracts models. Financial market and institutions should offer different ways of financial assistance. However, financial market of the Czech Republic is not prepared for this type of investment.
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Article provided by University of Economics, Prague in its journal Prague Economic Papers.
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Find related papers by JEL classification: I22 - Health, Education, and Welfare - - Education - - - Educational Finance J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
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