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Internal and External Human Capitals as Factors for Wealth: a World Model

Author

Listed:
  • Víctor-Raúl López Ruiz

    (Econometrics Department, University of Castilla La Mancha (Spain))

  • Domingo Nevado Pena

    (Accountancy Department, University of Castilla La Mancha (Spain))

Abstract

We present in this work evidence about the relationships between human capital and wealth for seventy two countries in the world. Human capital is estimated, in monetary per capita terms, from intellectual capital approach with two types of indicators: absolute, in monetary terms, and efficiency, in percentage of utility. Database is generated from World Bank Group. Human capital is divided in two capitals. First, internal human capital: it is based in education investment, and external human capital: it is supported in remittances and people attracted from rest of the world due labour market conditions. Both perspectives are analyzed as factor of wealth in a regression where these are significant, relevant and variables accord of level of GDP. Conclusions about implications for actual time of crisis are obtained.

Suggested Citation

  • Víctor-Raúl López Ruiz & Domingo Nevado Pena, 2012. "Internal and External Human Capitals as Factors for Wealth: a World Model," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(3), pages 1-2, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:3:p:2
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    More about this item

    Keywords

    Human capital; wealth; international model.;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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