scholarly journals The two faces of human capital and their effect on technological progress

2018 ◽  
Vol 65 (2) ◽  
pp. 163-181 ◽  
Author(s):  
Carmen López-Pueyo ◽  
Sara Barcenilla ◽  
Gregorio Giménez
Keyword(s):  
Human Capital ◽  
Cognitive Skills ◽  
Technological Progress ◽  
Developed Countries ◽  
Logistic Function ◽  
Endogeneity Bias ◽  
Innovation And Technology ◽  
Penn World Table ◽  
Capital Efficiency ◽  
Innovation And Diffusion

The aim of the paper is to investigate the effect of a new international estimate of human capital on the process of innovation and technology catch-up in developed countries. The new human capital variable is a measure of average human capital efficiency per hour worked that considers the role of both the quantity and quality of education. Our methodology is based on the framework proposed by Jess Benhabib and Mark A. Spiegel (2005) that uses a logistic function of technology diffusion. The analysis employs panel econometrics and tackles the endogeneity bias. Empirical results show robust evidence of the significance of this human capital variable as a driver of innovation and diffusion. The effects of cognitive skills on technological progress are higher the closer the economies are to the technology frontier. Furthermore, as technological progress has been measured using the improved total factor productivity (TFP) variables built in Penn World Table (PWT) 8.0, we confirm the existence of social returns to human capital.

scholarly journals The efficiency of use of the human capital in the agriculture

2016 ◽  
Vol 14 (4) ◽  
pp. 97-102
Author(s):  
Viktor Bazylevych ◽  
Galyna Kupalova ◽  
Zhanna Bulhairova ◽  
Larysa Satyr ◽  
Natalia Goncharenko
Keyword(s):  
Human Capital ◽  
Agricultural Sector ◽  
Developed Countries ◽  
Jel Classification ◽  
Green Economy ◽  
Business Skills ◽  
Investment Resource ◽  
Capital Efficiency ◽  
The Developed Countries ◽  
Methodological Aspects

The article presents the results of theoretical review and summarizing of materials regarding the interpretation of the nature and role of human capital. It is the main strategic resource capable of solving complex problems for the country’s transition to “green economy”. Human capital is considered as a totality of certain personal, social, professional and business skills, as well as an important investment resource, the use of which contributes to the efficiency of production. Considerable attention is devoted to the methodological aspects of the human capital’s study. Despite the importance of the problem of productive use of human capital, the relationship of quality, motivation of personnel and efficiency of its use has not been sufficiently studied, which led to the need of a more detailed study of this issue with the use of sampling, monographic studies and statistical methods for the research of stochastic relations. The study included the following stages: analysis and assessment of the level of development of the human capital of Kazakhstan compared to the developed countries, identification of factors that influence the use of this capital and calculation of strength of their relationship; formation of proposals regarding the accumulation, effective use and further development of human capital in the agricultural sector of the economy. Keywords: agriculture, human capital, efficiency, Kazakhstan. JEL Classification: E24, J24, M53, O15, Q13

The Reproduction Vector of the Russian Economy: 1999-2007

2008 ◽  
pp. 94-109 ◽  
Author(s):  
D. Sorokin
Keyword(s):  
Economic Policy ◽  
Human Capital ◽  
Growth Rates ◽  
Developed Countries ◽  
Gdp Per Capita ◽  
Real Sector ◽  
Russian Economy ◽  
Per Capita ◽  
The Developed Countries

The problem of the Russian economy’s growth rates is considered in the article in the context of Russia’s backwardness regarding GDP per capita in comparison with the developed countries. The author stresses the urgency of modernization of the real sector of the economy and the recovery of the country’s human capital. For reaching these goals short- or mid-term programs are not sufficient. Economic policy needs a long-term (15-20 years) strategy, otherwise Russia will be condemned to economic inertia and multiplying structural disproportions.

On the issue of the revitalization and modernization of the engineering in Russia

2019 ◽  
pp. 19-24
Author(s):  
A. E. Melnikov
Keyword(s):  
National Economy ◽  
Technological Progress ◽  
Developed Countries ◽  
The State ◽  
Engineering Technology ◽  
Operational Characteristics ◽  
Technical Potential ◽  
Significant Barrier ◽  
The Developed Countries ◽  
Competitive Products

Currently, one of the important tasks of the economic policy of Russia is the formation of a hightech image of the national economy, capable of effective functioning in the changing global geopolitical and geoeconomic conditions. In this context, the issue of revitalization of mechanical engineering, which plays a key role in the development of the country’s economy, is of particular relevance. This sector is a link between scientific and technological progress and the level of provision of domestic producers with domestic machines and equipment, allowing them to produce competitive products and to a lesser extent depend on the state of the external environment. The example of the developed countries of the world shows that the development of advanced engineering technology significantly increases the efficiency of the national economy, helps to accelerate its growth. At the same time, in Russia, in order to unleash the scientific and technical potential and activate engineering, it is necessary to initiate modernization processes in it. Based on the foregoing, the purpose of the study is to analyze the state of Russian engineering from the position of its role in the country’s economy. It is shown that at present a significant barrier to the development of this sector is the predominance of imported equipment, due to technical and operational characteristics, often superior to domestic counterparts.

scholarly journals Eco-Efficiency and Human Capital Efficiency: Example of Small- and Medium-Sized Family Farms in Selected European Countries

2021 ◽  
Vol 13 (12) ◽  
pp. 6846
Author(s):  
Jan Polcyn
Keyword(s):  
Human Capital ◽  
Agricultural Production ◽  
Efficiency Index ◽  
European Countries ◽  
Family Farms ◽  
Work Hour ◽  
Capital Efficiency ◽  
Environmental Measures ◽  
The Relationship ◽  
Economic Measure

Small- and medium-sized family farms are places to live and sources of income for about half of the population. The aim of this analysis was to determine the relationship between eco-efficiency and human capital efficiency on small- and medium-sized family farms. The analysis was carried out using an economic measure (value of agricultural production per work hour calculated per hectare) and two synthetic measures (human capital and environmental measures). The synthetic measures were determined using the TOPSIS-CRITIC method by defining weights for variables used in the measures. The analysis covered five countries: Lithuania (960 farms), Moldavia (532 farms), Poland (696 farms), Romania (872 farms) and Serbia (524 farms). All of these countries are characterised by a high fragmentation of agricultural holdings. The analysis allowed us to formulate the following conclusions: eco-efficiency and human capital efficiency indices increased with area for small- and medium-sized family farms. An increase in the eco-efficiency index with an increase in farm area suggests that the smaller the farm area, the more extensive the agricultural production that was carried out. In addition, an increase in human capital efficiency with an increase in farm area indicates that there was inefficiency in the utilisation of human capital resources on the agricultural farms studied.

scholarly journals The Change of Sources of Growth and Sustainable Development in China: Based on the Extended EKC Explanation

2021 ◽  
Vol 13 (5) ◽  
pp. 2803
Author(s):  
Huaide Wen ◽  
Jun Dai
Keyword(s):  
Sustainable Development ◽  
Human Capital ◽  
Environmental Pollution ◽  
Knowledge Economy ◽  
Technological Progress ◽  
Inflection Point ◽  
Physical Capital ◽  
Production Factors ◽  
Main Production ◽  
Traditional Economy

This paper extends the “sources of growth” explanation for the Environmental Kuznets Curve (EKC) proposed by Copeland and Taylor in a concise theoretical framework, that is, when the sources of growth are transformed from physical capital and labor to human capital and knowledge, the environmental pollution could at first rise and then fall with a sustainable growth in per capita income. Using the provincial panel data from 1995 to 2017 in the mainland of China, an empirical analysis is carried out by the System Generalized Method of Moment (sys-GMM). The results show that: first, the EKC hypothesis exists in China. The inflection point for SO2 emissions has been passed in all of the provincial regions, and for CO2 and comprehensive environmental pollution losses have not been passed in some regions, but the inflection point from the national average level in China has been passed; second, the main production factors of the traditional economy, physical capital and labor, are positively correlated with environmental pollution, while human capital and green technological progress, the main production factors of the knowledge economy, are negatively related to environmental pollution; third, human capital and green technological progress have become important factors to promote economic growth, and human capital, in particular, has become the primary factor, which indicates that China is in the process of transforming traditional economy into a knowledge economy. The stage of China’s economic development and the trend of environmental pollution is consistent with the extended “sources of growth” explanation for the EKC, which proved the theoretical hypothesis. This has an important practical significance for China’s current economic reform and important theoretical value for the economic transformation and sustainable development of developing countries. The paper finally puts forward corresponding policy recommendations.

Gender Differences in Earnings Rewards to Personality Traits in Wage-employment and Self-employment Labour Markets

2021 ◽  
Vol 46 (2) ◽  
pp. 204-228
Author(s):  
Ibrahim Mohammed ◽  
Priscilla Twumasi Baffour ◽  
Wassiuw Abdul Rahaman
Keyword(s):  
Gender Differences ◽  
Human Capital ◽  
Personality Traits ◽  
Big Five ◽  
Cognitive Skills ◽  
Big Five Personality Traits ◽  
Big Five Personality ◽  
Self Employment ◽  
Wage Employment ◽  
Wage Equations

In an extensive review of wage determination papers, it is concluded that the standard demographic and human capital factors explain little of earning differentials. Consequently, there is a growing interest among economists to include non-cognitive skills measured by personality traits in recent empirical literature to explain variations in earnings. In a bid to contribute empirical evidence to this strand of literature, this study examines the associations between the Big-Five personality traits (i.e., agreeableness, conscientiousness, openness, extraversion and neuroticism) and earnings, using the World Bank’s Skills towards Employment and Productivity (STEP) data on Ghana. The study employed regression techniques to estimate a series of semi-logarithmic wage equations that include demographic and human capital factors and the Big-Five personality traits to determine how important these factors are in explaining wage and self-employment earnings. Furthermore, the estimations of the wage equations are done separately for males and females to highlight any gender differences in the way personality traits contribute to earnings. Findings are largely consistent with the literature but uniquely demonstrate that in a power-distant culture like Ghana, where, traditionally, girl-child education has been relegated to the background, agreeable females, and not males, are rewarded in the formal wage employment labour market. However, in the informal self-employment labour market, conscientious males, and not females, are positively rewarded with higher earnings. These unique findings contribute to our understanding of the gender differences in the relative importance of non-cognitive skills in the formal and informal labour markets. JEL Codes: J31, J24

scholarly journals An industry analysis of the power of human capital for corporate performance: Evidence from South Africa

2015 ◽  
Vol 18 (4) ◽  
pp. 486-499 ◽  
Author(s):  
Carla Morris
Keyword(s):  
South Africa ◽  
Human Capital ◽  
Financial Performance ◽  
Market Performance ◽  
Value Added ◽  
Further Education ◽  
Bottom Line ◽  
Revenue Growth ◽  
Earnings Per Share ◽  
Capital Efficiency

Even in industrialised emerging economies, the value-generating competencies of a workforce, known as its human capital efficiency, are a key resource for commercial success. The objective of this research is to empirically investigate the relationship between human capital efficiency (as measured by value-added human capital) and the financial and market performance of companies listed on the Main Board and Alternative Exchange (ALT-X) of the Johannesburg Stock Exchange. Return on assets, revenue growth and headline earnings per share were used as financial performance indicators; while market-to-book ratio and total share return were used to measure market performance. Multivariate regressions were performed, with panel data covering 390 companies in the financial, basic materials, consumer services, consumer goods, industrial and technology industries from 2001 to 2011. First, human capital efficiency was found to have no effect on the market performance of listed companies in South Africa. Secondly, higher human capital efficiency was found to result in the extraction of greater returns from both tangible and intangible assets in all industries. Thirdly, higher profitability was found to be associated with higher human capital efficiency in almost every industry in South Africa, with the exception of the technology industry, where human capital efficiency was found to be independent of headline earnings per share. Finally, higher revenue growth was found to be positively associated with human capital efficiency in those industries which are not consumer-driven. In the consumer-driven industries, human capital efficiency contributes to bottom line profitability even though it is not a driver for revenue growth. Overall, the results of this study confirm that human capital efficiency enhances a company’s financial performance, whether it be through a greater capacity for production and service delivery, tighter cost controls or better use of company resources. Management in all South African industries are encouraged to develop the value-creating abilities of their employees through employer-driven personnel enrichment and training programs and by incentivising workers to pursue further education.

Human capital in the new development strategy of Russia

2021 ◽  
pp. 410-423
Author(s):  
Konstantin Konstantinovich Kolin
Keyword(s):  
Human Capital ◽  
Development Strategy ◽  
Socioeconomic Development ◽  
Innovation System ◽  
Developed Countries ◽  
Modern Concept ◽  
National Human ◽  
The World ◽  
The Developed Countries ◽  
Main Components

The article analyzes the modern concept of human capital and its role in the socioeconomic development of society. The structure of human capital in Russia and the state of its main components have been studied. The necessity of creating mechanisms for significantly more effective use of the intellectual potential of scientific and educational institutions of the country, as well as of the formation of a national innovation system, is shown. It is demonstrated that according to the World Bank estimates, today the national human capital in developing countries accounts for more than half of their national wealth, and in the developed countries of the world – for about 70-80%. Thus, human capital is now considered as the most important economic category, the importance of which will significantly increase in the 21st century. The author believes that it is advisable to use the positive experience of the functioning of such a system in China.

Exploring the impact of intellectual capital on company reputation and performance

2018 ◽  
Vol 19 (5) ◽  
pp. 915-934 ◽  
Author(s):  
Gianluca Ginesti ◽  
Adele Caldarelli ◽  
Annamaria Zampella
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Corporate Reputation ◽  
Intangible Asset ◽  
Competition Authority ◽  
Data Set ◽  
Content Type ◽  
Capital Efficiency ◽  
And Performance ◽  
The Impact

Purpose The purpose of this paper is to analyse the impact of intellectual capital (IC) on the reputation and performance of Italian companies. Design/methodology/approach The paper exploits a unique data set of 452 non-listed companies that obtained a reputational assessment from the Italian Competition Authority (ICA). To test the hypotheses, this study implemented several regression analyses. Findings Results support the argument that human capital efficiency is a key driver of corporate reputation. Findings also reveal that companies, which obtained reputational rating under ICA scrutiny, show a positive relationship between IC elements and various measures of financial performance. Research limitations/implications The study focuses on a single country; it is not free from the imprecisions of Pulic’s VAIC model. Practical implications This paper recommends companies that are interested to achieve a robust reputation should consider the human capital as a strategic intangible asset. Second, the results suggest that companies with an ICA reputational rating are able to leverage their intangibles to potentiate performance and competitiveness. Originality/value This is the first empirical investigation on the contribution of IC in generating value for corporate reputation. Additionally, the study contributes to the literature on the link between IC and performance by examining a sample of firms not yet explored in prior research.

scholarly journals INTERNATIONAL FEATURES AND NATIONAL PECULIARITIES OF THE HUMAN CAPITAL FORMATION OF THE WORLD ECONOMY

2019 ◽  
Vol 21 (3(72)) ◽  
pp. 159-170
Author(s):  
V.N. FOMISHYNA ◽  
S. V. FOMISHYN ◽  
O.K. LADUSHYNA
Keyword(s):  
Human Capital ◽  
Functional Role ◽  
Structural Changes ◽  
Developed Countries ◽  
Human Potential ◽  
Labor Costs ◽  
Human Capital Development ◽  
Capital Development ◽  
World Development

Topicality. Subjective educational, professional, moral and psychological properties of a person which were important at all times, nowadays receive special significance in the context of the formation of a global knowledge economy,. It now becomes an axiom that a person, his knowledge and skills, his ability to creativity is the main productive resource and the main value of society. Valuable measure gets an economic importance in the sense that, in the case of its deformation, all society's efforts, expenditures of government and intergovernmental institutions, households and other actors in sufficient (or high) cost of human capital achievement will fail in forming the main value and the main productive resource of society. Aim and tasks. The purpose of the article is to study the functional role, international features of the formation of human capital and their manifestations in the national economy. Research results. The most developed countries are those which have a high level of human capital development. The functional role of human capital in world development is realized through qualitative improvement of the human potential of the country, the formation of the abilities and needs of its population, plus the characteristics of the contribution of these non-market investments to economic growth, efficiency and competitiveness. Human capital, like all kinds of capital, is not objectively predetermined, it is the result of the joint efforts of the man himself, his family, enterprise, and state. For a person, these efforts are associated with labor costs, time and financial resources, for enterprises and the state - mainly with the financial costs associated with economic and social development. The financial cost of a qualitative improvement of the workforce, which means its transformation into human capital, takes the form of investment � all kinds of investments into a person, that can be valued in cash or another form and are purposeful, that contribute to the growth of labor productivity and increase income level. Investments in human capital in comparison with investments in other types of capital are distinguished by a number of peculiarities that influence the decision making of the subject in relation to the choice between current consumption or savings for the purpose of further investment and accumulation of human capital. Each of the subjects, investing in individual human capital, pursues its own goals and sees in his own way the future benefits of its accumulation. The dynamics, structure and volume of these investments shows that they differ significantly in the industrialized countries and in Ukraine. The volumes of investments into different components of human capital in Ukraine are lower than in Western countries, the USA, and Japan. As a result, in the last decades there has been a deformed structure of investment in a person, which complicates its quantitative and qualitative reproduction. Conclusion. International tendencies of human capital development are manifested in the following: the formation of a human-centric concept and the humanization of world development; growth of the role of financial markets in investing in human capital; a large proportion of human capital in the national wealth of highly developed countries; high and stable expenditures on human capital development at all levels of the economy; rapid response of the educational sphere to structural changes in the economy; the transformation of knowledge into the most extensive sphere of investment. In the system of reproduction of human capital in modern Ukraine has accumulated a number of acute problems of socio-economic and moral-ideological nature, which, due to the unfavourable development of events, could lead not only to the progress of the economic system, but also to its destruction.

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