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Human Resources development and research capacity and their impact on economic growth

Author

Listed:
  • Nada Karaman Aksentijevic

    () (University of Rijeka, Faculty of Economics, Rijeka, Croatia)

  • Zoran Jezic

    (University of Rijeka, Faculty of Economics, Rijeka, Croatia)

Abstract

The goal of this research is to provide an analysis of the development of the Republic of Croatia and 110 selected countries in terms of human resource development index components and the components of the Technological Achievement Index. Developmental lags of the Republic of Croatia were determined by the bird’s eye view method in terms of the observed developmental indicators, and suggestions were provided for their development. The impact of the analyzed indicators and their components on the economic growth of the Republic of Croatia and the selected countries was established by regression analysis. The paper provides possible developmental guidelines for certain components. The results of the research proved that the Human Resources Development Index is insufficient in the analysis of economic development, as well as the existence of the expected correlation between trained human resources, which enable technological progress, and economic growth of a country. Taking into consideration the correlation between the growth of the Human Resources Development Index, Research Capacity Index, Technology and Innovation Index, and the Ability to Absorb Knowledge and Technology Index and economic growth, which was determined by the application of a model, Croatia has to make additional investments in the growth of human capital and labour productivity in order to reduce developmental lags.

Suggested Citation

  • Nada Karaman Aksentijevic & Zoran Jezic, 2009. "Human Resources development and research capacity and their impact on economic growth," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics, vol. 27(2), pages 263-291.
  • Handle: RePEc:rfe:zbefri:v:27:y:2009:i:2:p:263-291
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    References listed on IDEAS

    as
    1. Joshua Drucker & Harvey Goldstein, 2007. "Assessing the Regional Economic Development Impacts of Universities: A Review of Current Approaches," International Regional Science Review, , vol. 30(1), pages 20-46, January.
    2. Jürgen Bitzer, 2005. "Measuring Knowledge Stocks: A Process of Creative Destruction," Kyklos, Wiley Blackwell, vol. 58(3), pages 379-393, July.
    3. Ruwan Jayasuriya & Quentin Wodon, 2005. "Measuring and Explaining the Impact of Productive Efficiency on Economic Development," World Bank Economic Review, World Bank Group, vol. 19(1), pages 121-140.
    4. George Halkos & Nickolaos Tzeremes, 2008. "Trade efficiency and economic development: evidence from a cross country comparison," Applied Economics, Taylor & Francis Journals, vol. 40(21), pages 2749-2764.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    human resources; research capacity; economic growth; Republic of Croatia;

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • I0 - Health, Education, and Welfare - - General

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