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

Víctor-Raúl López Ruiz () and Domingo Nevado Pena ()
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Víctor-Raúl López Ruiz: Econometrics Department, University of Castilla La Mancha (Spain)
Domingo Nevado Pena: Accountancy Department, University of Castilla La Mancha (Spain)

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 3, 2

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.

Keywords: Human capital; wealth; international model. (search for similar items in EconPapers)
JEL-codes: C21 O15 O50 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:3:p:2

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