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Human capital and modelling of its development

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  • J. Tvrdoň

    (Czech University of Agriculture, Prague, Czech Republic)

Abstract

The paper deals with the relation between education, as pivotal characteristics of capital, and efficiency of school work-places with use of production modelling. A starting analytic tool is a determination of school facilities efficiency according to an efficiency matrix from which it results that also schools with a lower volume of resources per a student can significantly contribute to human capital development. Transformation of these sources into knowledge is expressed by a production function of education in which results of students are an endogenous variable in dependence on school resources, qualification level of students' families, school-mates' level, previous results of students and their effort. The course of the production function and its shape depends on many factors and economy of scale determined in the paper.

Suggested Citation

  • J. Tvrdoň, 2006. "Human capital and modelling of its development," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 52(3), pages 117-122.
    • Handle: RePEc:caa:jnlage:v:52:y:2006:i:3:id:5003-agricecon
    DOI: 10.17221/5003-AGRICECON
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    References listed on IDEAS

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    1. Eric A. Hanushek, 1998. "Conclusions and controversies about the effectiveness of school resources," Economic Policy Review, Federal Reserve Bank of New York, vol. 4(Mar), pages 11-27.
    2. Johnes, Jill & Johnes, Geraint, 1995. "Neither poison nor panacea," Economics of Education Review, Elsevier, vol. 14(3), pages 317-318, September.
    3. Johnes, Jill & Johnes, Geraint, 1995. "Research funding and performance in U.K. University Departments of Economics: A frontier analysis," Economics of Education Review, Elsevier, vol. 14(3), pages 301-314, September.
    4. Hoenack, Stephen A., 1994. "Economics, organizations, and learning: Research directions for the economics of education," Economics of Education Review, Elsevier, vol. 13(2), pages 147-162, June.
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    Cited by:

    1. E. Matejková & A. Qineti & R. Serenčéš, 2008. "Macroeconomic aspects of the development of Slovak regions in the post-accession period," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 54(8), pages 367-375.

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