Eco-Efficiency and Human Capital in Europe: Quantitative Assessment

Eduard Nezinský
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Eduard Nezinský: Ekonomicka univerzita v Bratislave, Slovakia

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Abstract: Eco-efficiency of production has been an issue in decision making process on a firm level as well as macro-level of national economy. Quality of human capital can undoubtedly affect the efficiency of the process of transforming inputs into desirable outputs while keeping „bads‘ as low as possible. In the paper, efficiency of European economies is assessed using non-parametric method of data envelopment analysis as an application of linear optimization. A specific slack-based measure is employed to capture sources of inefficiency in standard macroeconomic inputs – labour and capital stock. Human capital enters the model in the form of the labour-augmenting coefficient obtained from wage regressions and years of education. The results obtained by the proposed methodology can be informative as to determining sources of inefficiency in inputs as well as to giving the general picture of the human capital acting as input in the production process to provide a possible support for decision makers.

Keywords: eco-efficiency; human capital; data envelopment analysis; SBM model (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:tkp:mklp15:1821-1828

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