ROLE OF HUMAN CAPITAL FORMATION IN ECONOMIC DEVELOPMENT

Tanase Diana
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Tanase Diana: EFTIMIE MURGU UNIVERSITY OF RESITA

Annals - Economy Series, 2013, vol. 6, 206-212

Abstract: The paper highlights the role of education in the growth of economic competitiveness and efficiency of human capital, in accordance with the quality of education and investments in human resources, in order to enhance labour productiveness. The paper starts by a brief analysis of Romania’s educational system, by comparison with the EU countries, analysing the number of high school students / college students per teacher, the percentage of education expenditure in the GDP, the correlation between the labour force’s training level and insertion into the labour market. The paper also presents the EU countries’ ranking related to higher education and professional training, pointing out the importance of lifelong professional training at the place of work. The paper draws conclusions regarding the importance of the labour force training, as the operation of a modern economy requires the existence of a well-trained labour force, education representing one of the fundamental pillars of any society’s development. Keywords: education, labour force, competitiveness, economic development Journal: Constatin Brancusi University of Targu Jiu Annals - Economy Series

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2013:v:6:p:206-212

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