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Quality of Human Capital in European Union in the Years 2004-2013. Application of Structural Equation Modeling

In: Proceedings of the International Scientific Conference Quantitative Methods in Economics Multiple Criteria Decision Making XVIII

Author

Listed:
  • Adam P. Balcerzak

    (Nicolaus Copernicus University)

  • Michal Bernard Pietrzak

    (Nicolaus Copernicus University)

Abstract

EU policy guidelines point out that improvement of quality of human capital (QHC) should be treated as an important factor supporting convergence process. Thus, the aim of the research is the identification of the variables that determine changes in QHC. It is assumed that QHC should be considered as a latent variable, which can be measured with application of Structural Equation Modeling (SEM). SEM includes confirmatory factor analysis and path analysis used in econometrics. In the research, the hypothetic SEM model was proposed for the years 2004-2013. Four subsets of observable variables were used: a) macroeconomic and labour market effectiveness, b) quality of education, c) national innovation system, d) health and social cohesion. The research confirmed significant influence of the proposed variables on the level of QHC and positive tendencies in changes of QHS in the EU countries.

Suggested Citation

  • Adam P. Balcerzak & Michal Bernard Pietrzak, 2016. "Quality of Human Capital in European Union in the Years 2004-2013. Application of Structural Equation Modeling," Chapters, in: Proceedings of the International Scientific Conference Quantitative Methods in Economics Multiple Criteria Decision Making XVIII, edition 1, volume 1, chapter 1, pages 7-11, Institute of Economic Research.
    • Handle: RePEc:pes:ecchap:14
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    Citations

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    Cited by:

    1. Adam P. Balcerzak & Michal Bernard Pietrzak, 2016. "Dynamic Panel Analysis of Influence of Quality of Human Capital on Total Factor Productivity in Old European Union Countries," Working Papers 19/2016, Institute of Economic Research, revised May 2016.
    2. Sajjad Barkhordari & Maryam Fattahi & Naser Ali Azimi, 2019. "The Impact of Knowledge-Based Economy on Growth Performance: Evidence from MENA Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(3), pages 1168-1182, September.
    3. Kamil Decyk, 2021. "Service Sector Productivity in the European Union Member States," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 3), pages 185-202.

    More about this item

    Keywords

    Structural Equation Model (SEM); quality of human capital; European Union;
    All these keywords.

    JEL classification:

    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis

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