Explaining human capital composition and formation mechanisms: a new conceptual framework of analysis
AbstractThis paper summarizes the existing definitions of human capital from theoretical debates and empirical surveys and argues for the need to revise how human capital composition and formation processes are currently understood. A new framework is introduced to present human capital as a complex phenomenon consisting of five main elements: genetics, personality, motivation, knowledge, and skills. According to this conceptual framework, knowledge and skill formation both occur through learning and being exposed to challenging work environments.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 49820.
Date of creation: 01 Sep 2012
Date of revision: 01 Sep 2013
human capital; knowledge formation; skill acquisition; human capital formation process;
Find related papers by JEL classification:
- J0 - Labor and Demographic Economics - - General
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
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