Human capital was formed with Lucas (1988), Mankiw, Romer and Weil(1992), Jones(1995), and Romer (1986, 1990)’s studies. In these studies, education and knowledge indicators were prior to determine human capital and “useable human capital stock” was not taken into consideration. Although Romer (1986) stated that knowledge is the main source of growth and productivity, he did not give any information on how knowledge can be attached importance in disorganized markets or developing economies. The objective of this paper is to examine “useable human capital stock”, and, introduce how “useable human capital stock” can be maximized in developing countries. The empirical and theoretical analysis shows that human capital not only depends on education and knowledge but also the structure of population, human development, gender equality, the structure of employment, and the possibility of reaching knowledge, R&D, the level of science, the institutions and human resources management.
|Translated title of the contribution||Comparative Analysis of Human Capital|
|Pages (from-to)||p. 51-63|
|Journal||Journal of Accounting and Finance, Association of Accounting and Finance Academicians (AAFA) Publications|
|Publication status||Published - Jan 2006|
- Human capital, human capital stock, investment on education, human development, employment, knowledge, R&D, institutions, human resources management