IDEAS home Printed from https://ideas.repec.org/a/brc/brccej/v1y2016i4p51-62.html

The Human Capital - A Long Term Investment

Author

Listed:
  • Cornelia Serena, PASCA

    (”Babes-Bolyai” University of Cluj-Napoca, Romania)

Abstract

Human capital reflects, on the one hand, physical and intellectual skills that characterize work and creative capacity, and on the other, the expenses incurred for optimizing and acquiring such skills. The importance granted to human capital through investment in education and research and development as well as defining the human capital concept, determining its origin and presenting its components and types, as well as the relation between education, human capital formation and economic growth, and equally the correlation between human capital and the allotment of proceeds (income) are the themes this article tackled. Correlation of the educational system supply and the structure and dynamic demand of labor market requires adaptation of workforce supply and human resources to the economic – social needs and the education and training of the same. Education plays a major part in human capital construction and in determining the opportunity of the individual from the economic point of view.

Suggested Citation

  • Cornelia Serena, PASCA, 2016. "The Human Capital - A Long Term Investment," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 1(4), pages 51-62.
    • Handle: RePEc:brc:brccej:v:1:y:2016:i:4:p:51-62
    as

    Download full text from publisher

    File URL: http://www.revec.ro/papers/160404.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Isabell Welpe & Stephan Lutz & Erich Barthel, 2007. "The Theory of Real Options as Theoretical Foundation for the Assessment of Human Capital in Organizations," Zeitschrift fuer Personalforschung. German Journal of Research in Human Resource Management, Rainer Hampp Verlag, vol. 21(3), pages 274-294.
    2. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    3. C. Katharina Spieß, 2013. "Investments in Education: The Early Years Offer Great Potential," DIW Economic Bulletin, DIW Berlin, German Institute for Economic Research, vol. 3(10), pages 3-10.
    4. Kirk Hamilton & Gang Liu, 2014. "Human capital, tangible wealth, and the intangible capital residual," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 30(1), pages 70-91.
    5. Heckman, James & Layne-Farrar, Anne & Todd, Petra, 1996. "Human Capital Pricing Equations with an Application to Estimating the Effect of Schooling Quality on Earnings," The Review of Economics and Statistics, MIT Press, vol. 78(4), pages 562-610, November.
    6. James Heckman, 1998. "What should be our human capital investment policy?," Fiscal Studies, Institute for Fiscal Studies, vol. 19(2), pages 103-119, May.
    7. Richard Blundell & Lorraine Dearden & Costas Meghir & Barbara Sianesi, 1999. "Human capital investment: the returns from education and training to the individual, the firm and the economy," Fiscal Studies, Institute for Fiscal Studies, vol. 20(1), pages 1-23, March.
    8. John W. Kendrick, 1972. "The Treatment Of Intangible Resources As Capital," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 18(1), pages 109-125, March.
    9. Becker, Gary S, 1993. "Nobel Lecture: The Economic Way of Looking at Behavior," Journal of Political Economy, University of Chicago Press, vol. 101(3), pages 385-409, June.
    10. repec:bla:revinw:v:18:y:1972:i:1:p:109-25 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    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. Ilkhom SHARIPOV, 2016. "ECONOMIC GROWTH IN THE EU’S EaP COUNTRIES: DETERMINANTS AND PROSPECTS," EURINT, Centre for European Studies, Alexandru Ioan Cuza University, vol. 3, pages 169-187.
    2. Sivropoulos-Valero, Anna Alexandra, 2021. "Education and economic growth," LSE Research Online Documents on Economics 114434, London School of Economics and Political Science, LSE Library.
    3. Mikayel Melkumyan Haykaz Igityan & Maria Sahakyan & Frida Baharyan, 2023. "Introducing Educational Reforms in Neoclassical Model," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 41-53.
    4. McLaughlin, Eoin & Ducoing, Cristián & Hanley, Nick, 2024. "Challenges of wealth-based sustainability metrics: A critical appraisal," Ecological Economics, Elsevier, vol. 224(C).
    5. Zixiang Qi & Bicong Wang & Yaxin Wang, 2025. "Income inequality and economic growth," American Journal of Economics and Sociology, Wiley Blackwell, vol. 84(2), pages 387-426, March.
    6. Anna Valero, 2021. "Education and economic growth," POID Working Papers 006, Centre for Economic Performance, LSE.
    7. Rafi Amir-ud-Din & Muhammad Usman & Faisal Abbas & Sajid Amin Javed, 2019. "Human versus physical capital: issues of accumulation, interaction and endogeneity," Economic Change and Restructuring, Springer, vol. 52(4), pages 351-382, November.
    8. Rosamaria D'AMORE & Roberto IORIO & Giuseppe LUBRANO LAVADERA, 2017. "Exploring the Relationship Between Human Capital and Innovation at the Firm Level: A study on a Sample of European Firms," CELPE Discussion Papers 144, CELPE - CEnter for Labor and Political Economics, University of Salerno, Italy.
    9. Anna Valero, 2021. "Education and economic growth," CEP Discussion Papers dp1764, Centre for Economic Performance, LSE.
    10. Andrew Beauchamp, 2020. "Humane Capital: A Reexamination of Catholic Social Teachings in Light of the Shift to Human Capital," American Journal of Economics and Sociology, Wiley Blackwell, vol. 79(4), pages 1209-1240, September.
    11. Ralph Hippe & Roger Fouquet, 2024. "The Human Capital Transition and the Role of Policy," Springer Books, in: Claude Diebolt & Michael Haupert (ed.), Handbook of Cliometrics, edition 3, pages 411-457, Springer.
    12. Florian Immanuel Schumacher & Joilson Dias, 2011. "The Human Capital Function: Sectoralexternalities," Anais do XXXVIII Encontro Nacional de Economia [Proceedings of the 38th Brazilian Economics Meeting] 215, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    13. Yanick Labrie & Claude Montmarquette, 2005. "La formation qualifiante et transférable en milieu de travail," CIRANO Project Reports 2005rp-04, CIRANO.
    14. Ottaviano, Gianmarco & Peri, Giovanni, 2008. "Immigration and National Wages: Clarifying the Theory and the Empirics," CEPR Discussion Papers 6916, Centre for Economic Policy Research.
    15. Das Gupta, Monica & Bongaarts, John & Cleland, John, 2011. "Population, poverty, and sustainable development : a review of the evidence," Policy Research Working Paper Series 5719, The World Bank.
    16. Kawalec Paweł, 2020. "The dynamics of theories of economic growth: An impact of Unified Growth Theory," Economics and Business Review, Paradigm, vol. 6(2), pages 19-44, June.
    17. Kutuk, Yasin, 2022. "Inequality convergence: A world-systems theory approach," Structural Change and Economic Dynamics, Elsevier, vol. 63(C), pages 150-165.
    18. van de Klundert, T.C.M.J. & Smulders, J.A., 1991. "Reconstructing growth theory : A survey," Other publications TiSEM 19355c51-17eb-4d5d-aa66-b, Tilburg University, School of Economics and Management.
    19. Lederman, Daniel,Saenz, Laura, 2005. "Innovation and development around the world, 1960-2000," Policy Research Working Paper Series 3774, The World Bank.
    20. Tung Liu & Kui-Wai Li, 2008. "Revisiting Solow’s Decomposition of Economic and Productivity Growth," Working Papers 200805, Ball State University, Department of Economics, revised Dec 2008.

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

    Statistics

    Access and download statistics

    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:brc:brccej:v:1:y:2016:i:4:p:51-62. 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: Cristina GANESCU (email available below). General contact details of provider: http://www.univcb.ro/ .

    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.