engleski

The role of human capital in regional development

In developed economies, human capital is becoming increasingly recognized determinant of launching economic and regional development. Developed economies base their development on a policies that generate knowledge based economy (OECD, 2006). The success in achieving this goal can be seen through some objective indicators as for instance proportion of the population in tertiary education. Besides in developed economies, human capital acquires a central place in the countries of lower economic growth rate in order to accelerate development. Studying the differences and similarities of individual economies and regions is a complex issue. Therefore, the interest around the regional development is increasingly the concern of scientists from other fields of social sciences. Apart from the impact of human capital, regional development can encompass the domain of geographic, institutional and cultural determinants. The purpose of this paper is to present the impact of human capital in generating regional development. The paper investigates the theoretical aspects on human capital and analyses the impact of human capital investment on regional development. Besides the theoretical consideration, this paper deals with the comparison of Croatian and Hungarian human capital. Special emphasis will be laid upon the human capital development policies. The results of comparative analysis can offer public policies suggestions aimed in promoting human capital as one of important sources of regional prosperity.

human capital, economic development, regional development, education

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