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Factors Limiting Investment In Human Capital In Macedonia

Author

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  • Dimitar Eftimoski

    (Institute of Economics - Skopje (University Ss. Cyril and Methodius) and Faculty of Economics (European University - Republic of Macedonia))

Abstract

There is a strong link among investments in human capital, economic growth and human development. Since human capital (improvements in the quality of human labour) is embodied technical progress in labour (knowledge and skills), the economic development depends on advances in technological and scientific knowledge, economic development depends on the investments in human capital. The first part of the paper outlines the two key concepts related to investment in human capital - the basic economic concept and the human development concept. The second part is related to the limitations regarding the investment in human capital in Macedonia, expressed through four major dimensions: 1) poverty and inequality; 2) economic policy; 3) absence of a clear link between economic growth (GDP per capita) and human quality of life (HDI) and 4) the access of individuals to the capital market and to information.

Suggested Citation

  • Dimitar Eftimoski, 2006. "Factors Limiting Investment In Human Capital In Macedonia," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 8(20), pages 50-59, June.
    • Handle: RePEc:aes:amfeco:v:8:y:2006:i:20:p:50-59
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    References listed on IDEAS

    as
    1. Sudhir Anand and Amartya Sen, 1994. "Sustainable Human Development: Concepts and Priorities," Human Development Occasional Papers (1992-2007) HDOCPA-1994-03, Human Development Report Office (HDRO), United Nations Development Programme (UNDP).
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    More about this item

    Keywords

    Investment in human capital; Human development; Economic growth and development; Economic policy.;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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