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Human Capital Development – Economic Effects And Market Aspects

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  • Baki Huseinov

    (Economic Research Institute, Bulgarian Academy of Sciences)

Abstract

Human capital is the foundation of modern knowledge for growth, employment and social development. In terms of modern polity, we observe spending of large public resources, providing for both formation of national human capital through the system of government-funded education and long-term preservation of its generated value through the system of health care and social assistance. Seen through the prism of social choice theory, economics and labour market, human capital development is logically defined as a task of paramount importance in any modern political doctrine of social development. The aim of the study is to systematize and critically examine the basic issues related to the process of human capital development in terms of economic growth and labour market.

Suggested Citation

  • Baki Huseinov, 2017. "Human Capital Development – Economic Effects And Market Aspects," Economic Archive, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 1 Year 20, pages 38-56.
    • Handle: RePEc:dat:earchi:y:2017:i:1:p:38-56
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    File URL: http://hdl.handle.net/10610/3343
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    References listed on IDEAS

    as
    1. Theodore W. Schultz, 1960. "Capital Formation by Education," Journal of Political Economy, University of Chicago Press, vol. 68, pages 571-571.
    2. Jacob Mincer, 1958. "Investment in Human Capital and Personal Income Distribution," Journal of Political Economy, University of Chicago Press, vol. 66, pages 281-281.
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    More about this item

    Keywords

    human capital; labour market;

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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