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Informal education in Romania

Author

Listed:
  • Laura Diaconu
  • Cristian C. Popescu

    (EACSI Department, Faculty of Economics and Business Administration, "Al. I. Cuza" University of Iasi)

Abstract

The formal and informal education has a significant impact on human capital accumulation, which is strongly influencing the growth and development of a country. While the formal education is acquired especially through the learning system, the informal one is correlated to the professional ex-perience at the workplace, both of them being considered a long-term investment. Because the educational effort is indirectly related to the preference rate in time and directly related to the school efficiency, people have to rationally choose between the time spent working and the period spent with education, giving up on one of these activities. Yet, there is an alternative that reduces the necessity of the substitution through the factor time and which leads to an endogenous knowledge accumulation, into the productive act: the learning-by-doing process. Unfortunately, in Romania this is a concept very vague defined and applied, even in the case of the multinational corporations’ subsidies.

Suggested Citation

  • Laura Diaconu & Cristian C. Popescu, 2008. "Informal education in Romania," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 55, pages 231-236, November.
    • Handle: RePEc:aic:journl:y:2008:v:55:p:231-236
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    References listed on IDEAS

    as
    1. Lange, Fabian & Topel, Robert, 2006. "The Social Value of Education and Human Capital," Handbook of the Economics of Education, in: Erik Hanushek & F. Welch (ed.), Handbook of the Economics of Education, edition 1, volume 1, chapter 8, pages 459-509, Elsevier.
    2. Ferrante, Francesco & Sabatini, Fabio, 2007. "Education, social capital and entrepreneurial selection in Italy," MPRA Paper 2451, University Library of Munich, Germany.
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