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The human capital and development. The Romanian case study

Author

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  • Elena Pelinescu

    (Institute for Economic Forecasting, Romanian Academy)

Abstract

The human capital is the main driver of development and economic growth. This paper is focused on human capital and tries to show how the human capital, as an important economic factor contributes to the growth of the economy. Romer (1969) identified a positive relation between the initial level of literacy and its rate of growth and the increase of income per capita. Benhabib, and Spiegel (1994) showed that the growth rate of total factor productivity depends on the human capital stock level. Wilson and Briscoe (2004) in a literature review of relation between human capital and economic performance at macroeconomic level highlighted that the increases in economic growth across the EU are associated with increases in both education and training. This paper is focused on the relation between human capital and development in Romania and uses econometric techniques to highlight the role of human capital in increasing the country’s wealth.

Suggested Citation

  • Elena Pelinescu, 2017. "The human capital and development. The Romanian case study," Working Papers of Institute for Economic Forecasting 170702, Institute for Economic Forecasting.
    • Handle: RePEc:rjr:wpiecf:170702
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    File URL: http://www.ipe.ro/RePEc/WorkingPapers/wpiecf170702.pdf
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    Cited by:

    1. Herman Emilia & Suciu Marta-Christina, 2019. "Towards a smart, inclusive and sustainable development. Investment in human capital and innovation. An empirical analysis," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 13(1), pages 792-803, May.
    2. Cristina LINCARU & Speranţa PÎRCIOG, 2017. "Decomposing Productivity Changes – Romania’s Counties Case," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 166-184, September.

    More about this item

    Keywords

    human capital; development; inovation;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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