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Human capital: the need to be evaluated


  • Luminita Maria Gogan

    () (Politehnica University of Timisoara, Faculty of Management in Production and Transportation, Romania)


In this millennium, managing turbulent economic environment has become an important task for the nation, whose essential and primary purpose is to obtain competitive advantage. The progress of developed countries contributed to the formation of the new economy, knowledge economy, innovation, new technologies and business ventures. Human capital is the foundation of this new economy. The changing role of human capital transformation of element cost in the main productive factor and social development has led to the necessity of a new paradigm of economic growth. In the transition from the industrial to the information paradigm change occurs social relations economic, covering all spheres of human activity. Thus human capital is determined by the efficiency and competitiveness of subjects at different levels. In the new paradigm of global community development, human capital has a role in national wealth. Researchers have pointed that the human capital is the core competency of the nation and has the capacity to gain sustainable competitive advantage. The purpose of this article is to develop an evaluation model based on a qualitative and quantitative index system of human capital, so as to provide a good tool for country to manage their human capital. A case study found that there is a significant relationship between the scores of the human capital elements of a country and its performance, which proves the validity and rationality of the human capital model and the qualitative and quantitative index system.

Suggested Citation

  • Luminita Maria Gogan, 2014. "Human capital: the need to be evaluated," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 7(1), pages 52-60, June.
  • Handle: RePEc:rse:wpaper:v:7:y:2014:i:1:p:52-60

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    References listed on IDEAS

    1. Filer, Randall K. & Jurajda, Stepan & Planovsky, Jan, 1999. "Education and wages in the Czech and Slovak Republics during transition," Labour Economics, Elsevier, vol. 6(4), pages 581-593, November.
    2. Flabbi, Luca & Paternostro, Stefano & Tiongson, Erwin R., 2008. "Returns to education in the economic transition: A systematic assessment using comparable data," Economics of Education Review, Elsevier, vol. 27(6), pages 724-740, December.
    3. Ewart Keep, 2004. "The Economic and Distributional Implications of Current Policies on Higher Education," Oxford Review of Economic Policy, Oxford University Press, vol. 20(2), pages 298-314, Summer.
    4. Chase, R.S., 1997. "Markets for Communist Human Capital: Returns to Education and Experience in the Czech Republic and Slovakia," Papers 770, Yale - Economic Growth Center.
    5. Robert S. Chase, 1997. "Markets for Communist Human Capital: Returns to Education and Experience in the Czech Republic and Slovakia," William Davidson Institute Working Papers Series 109, William Davidson Institute at the University of Michigan.
    6. Robert S. Chase, 1997. "Markets for Communist Human Capital: Returns to Education and Experience in the Czech Republic and Slovakia," Working Papers 770, Economic Growth Center, Yale University.
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    More about this item


    human capital; indicators; nation;

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity


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