THE INFLUENCE OF HUMAN CAPITAL ON EDUCATIONAL SYSTEM EFFICIENTY

Anica Vukasinovic () and Ana Udovicic ()
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Anica Vukasinovic: Brodsko posavska county, Republic of Croatia
Ana Udovicic: Polytechnic of Sibenik, Republic of Croatia

Interdisciplinary Management Research, 2013, vol. 9, 677-685

Abstract: Every national economy and its long-term development depends great deal on the quality of human capital.The quality of human capital has been determined by the quality of educational system, investments in education and participation in education. Backwardness in development of educationl system and insaufficient investments in human capital can become limiting factor of long term sustainable development of every country.Croatian system of upbringing and education has been faced with great challanges such as decreased number of inhabitants, global and national changes in economy.Contemporary labour market demands fast acquisation of knowledge and skills, fast changes in ecomomy and society,the application of knowledge and lifelong learning.Social challanges require available, adaptable and vertically connected educational and scientific system which is continuosly being adjusted to the needsof the economy socially sensitive and based on the principle of lifelong learning.In order to ensure the sustainable establishment of such system considerable financial resources and competent human capital ara necessary in the whole region of Croatia.Motivating environment for sustainable innovative scientific - technological activities aimed at acquiring and developing of competences needed for competitive markets should be also taken into consideration.Educational resources,for the insurance of mentioned needs, have been reduced recently and such fact indicates that there is a specific crisis of the education in Croatia and the necessity of its reform.

Keywords: quality of human capital; quality of educational system; fi nacial decentralisation; lifelong learning; investments in education (search for similar items in EconPapers)
JEL-codes: H52 I25 (search for similar items in EconPapers)
Date: 2013
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