• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.43-54
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• 2021

Human capital and innovation capacities are essential elements and one of the sustainable approaches to driving economic growth. However, there is debate among scholars concerning these two factors in fostering economic growth. This study investigates the relationships between human capital and innovation capacity and economic growth in selected ASEAN countries, namely, Malaysia, Thailand, and Indonesia. Economists widely discussed the interrelation of human capital and innovation. A large body of literature stated that human capital is an essential factor and engine of economic growth. Innovation has become key in transforming the economic development of developing countries. We analyze human capital (HC) and innovation capacity (INC) using static panel data analysis. The data analysis shows that the fixed-effect model is the best model in this study. Further, human capital (HC) has a significant positive relationship with economic growth. Meanwhile, innovation capacity has no significant relationship with economic growth. We also found that Malaysia's coefficient of human capital and innovation capacity is higher and more efficient than in Thailand and Indonesia. In conclusion, human capital and innovation capacity are crucial elements for measuring economic growth. Skilled human capital contributes significantly to the economic growth and economic development of a nation.

• 신재생에너지
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• 제5권3호
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• pp.49-55
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• 2009

Human resource for the new and renewable energy technology is an important factor in the respect of the sustainable growth and energy security. In this paper, we focused on measuring the economic effect of human resource development on new and renewable energy development programs. The human capital accumulation model developed by Mincer (1974) was modified in terms of the rate of the researchers' investment in human capital. As a result of a empirical case study, the value of human capital was estimated by 102 million Korean won per year worth 18% of the project labor cost. In case of the assumption of 100% participation of researchers, the level of human capital accumulation increased to 914 million Korean won per year. These results imply that the new and renewable energy development programs has been successful, on the concept of learning by doing, in terms of providing the researchers with opportunities to accumulate human capital.

• Asian Journal of Business Environment
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• 제7권3호
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• pp.23-31
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• 2017

Purpose - The purpose of this paper is to rationale the new approach to analysis of the human capital as a factor of effective development of a national economy and increase the level of country's competitiveness. Research design, data, and methodology - This research aims the furthest development of the conception in human capital formation. The study made on the base of the methods with scientific classification and systematization, that is, comparative, statistical analysis, economic-mathematic method, and expert assessment and ratings. Results - This research attempted to measure the correlation between the human capital elements and the level of country's competitiveness. The study revealed that formation of the competitive human capital cannot be considered in separation from the development and modernization of education system, the improvement of employment sphere, and the creation of effective interaction between them through the system of professional skills. Conclusions - The competitive human capital formation is one of the most important goals in the innovative economy construction and modern development, and it is also indispensable subject. Especially in the condition of economic crises, the necessity of formation and development of the effective human capital is considerably increasing. Realization of this task requires the development and stimulation of all the factors influencing the growing human potential.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.29-35
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• 2021

This study discusses the effect of human capital and technology on economic growth in Indonesia using annual time series data over the 35-year research period (1984-2019). This study uses an autoregressive distribution gap to the cointegration approach to understanding the relationship between human capital, technology, and economic growth. Human capital is inherent in humans and becomes capital in providing the best performance that has an impact on their own income. We use the human capital framework in this study where education is one mechanism to increase human capital. Based on the results of our estimation, we find that the increase in human capital using the education mechanism affects economic growth. This shows the role of human capital investment is very important in economic growth. Technology shows a significant positive effect on economic growth. Increasing human resources and technology are important factors in efforts to increase economic growth in Indonesia. Educational development is the key to the success of increasing human capital and technological development because education plays a role in improving the quality of human resources. Increasing human resources here is in the form of increased knowledge, mastery of technology, innovation, and the ability to develop technology to encourage technology development.

• 산업경영시스템학회지
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• 제1권1호
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• pp.11-26
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• 1978

Economic development is usually identified with the increased of G.N.P and capital formation connected directly wi:11 the net increase of land, structure, commodity, stocks and foreign claims, etc. The increase of G.N.P. is driving at capital formation. The usual concept of capital formation for economic development misses the important productivity factor of human capital. Because it is now increasingly realized that a massive injection of material into production will 11 not necessarily explain a successful productivity unless that country already possesses 1 suitable human capital. Human capital is built of educational investment which is related to the physical capital. Many statistical investigations identified this reality. Of late years, a great crowd of economists studying an the problem of economic development have turned their attention towards human capital. Thereupon, this paper has dealt with the fact that educational investment affects physical capital and employment. The qualitative increment of human capital will increase the productivity but excessive expenditure on human capital will squander a physical capital. In designing a strategy of human capital for economic development, one needs to consider tile level of educational investment because educational investment of developing countries will be accasionaly made or marred by investment level and direction.

• The Journal of Asian Finance, Economics and Business
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• 제6권1호
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• pp.321-328
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• 2019

The purpose of the study is to analyze the main approaches to assessing human capital and develop proposals for its most objective assessment of it at the different levels of manifestation - individual, microeconomic and macroeconomic. The article considers the basic approaches to the evaluation of human capital, used in practice: retrospective (costly) and prospective (income based). Cost based methods involve measuring the value of human capital based on the total costs associated with its formation. The proposed additional evaluation criteria, in particular, the use of the expert approach and the developed indicators of a qualitative assessment of the human capital of the enterprise will allow development that is more efficient and use of available human resources. Human capital is becoming a major factor in the formation and development of an innovative economy and knowledge economy. Accordingly, the proposed additions to the assessment of human capital at the country level are aimed at assessing it from a new angle, taking into account the current global trends in the formation of an innovative economy and digitalization. They meet qualitatively new requirements for human capital as the main productive factor in the creation of new highly efficient technologies that promote the active development of the social sphere, science, education, health, etc.

• KDI Journal of Economic Policy
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• 제38권4호
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• pp.77-94
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• 2016

This paper examines the empirical magnitude of local human capital spillovers in Korea during the 1980s and mid-1990s. Local human capital spillovers exists if plants in regions with a higher level of human capital can produce more given their own amount of input (Moretti 2004c). In particular, this paper explores an educational reform in South Korea which exogenously induced a large amount of variation in regional human capital levels. Using annually collected plant level data, I explore the effect of changes in the regional human capital levels induced by this reform on plant productivity in Korea. My results suggest that this effect is limited. I find a positive correlation between a regional level of human capital and plant productivity. However, after further addressing endogeneity using an instrumental variable, the effect of the overall regional human capital level on productivity decreases and becomes statistically insignificant.

• 한국컴퓨터정보학회논문지
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• 제29권7호
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• pp.221-229
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• 2024

경제발전 수준이 높아짐에 따라 인적자본에 대한 관심은 더욱 높아지고 있다. 본 연구는 중국의 31개 지역을 대상으로 2002-2019년 기간 지역별 혁신적 인적자본을 추계 비교하고 있다. 본 연구의 혁신적 인적자본은 학력형 인적자본, 논문형 인적자본 그리고 특허형 인적자본으로 구성된다. 특히 본 연구는 기존 연구와 달리 특허형 인적자본과 논문형 인적자본의 가중치를 학력형 인적자본보다 높게 가정하고 있다. 왜냐하면 단순한 학력보다는 특허와 논문이 지역의 혁신역량에 상대적으로 더욱 큰 영향을 초래할 것이기 때문이다. 본 논문의 분석결과는 세 가지로 요약할 수 있다. 첫째, 중국의 지역별 혁신적 인적자본이 지역별 격차를 나타내고 있다. 지역경제발전 수준이 높은 지역일수록 혁신적 인적자본의 수준도 높다. 둘째, 지역별 혁신적 인적자본이 동태적으로 변하고 있다. 셋째, 북경시, 상해시, 광동성, 강소성을 중심으로 지역별 집중 현상이 더욱 가속화되고 있다. 따라서 본 연구결과는 지역경제발전에서 혁신적 인적자본의 역할이 중요함을 강조하고 있다.

• The Journal of Asian Finance, Economics and Business
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• 제2권2호
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• pp.19-25
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• 2015

This research is aimed the furthest development of the conception of Human capital formation. The study made on the base of methods of scientific classification and systematization; dialectical method and the method of scientific abstraction, systematic and comparative analysis; expert assessment and ratings. Formation of the competitive human capital is one of the most important goals of modern development of Kazakhstan in condition of the innovative economy construction. In this context the necessity of formation and development of the effective human capital considerably increases. Realization of this requires definition of a technique of measurement of its cost as well. The authors attempt to calculate the value of human capital for Kazakhstan during independency time. In order to determine the methods of its quantitative and qualitative assessment different methodological ways for human capital research are studied. On the basis of the study, it was revealed that formation of the competitive human capital can't be considered in a separation from development and modernization of system of quality education, improvement of the employment sphere, worthy payment for work.

• 유통과학연구
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• 제18권9호
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• pp.13-18
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• 2020

Purpose: Research and development of human capital in countries bring sustainable development to the nations. Especially for developing countries, the attraction of foreign direct investment not only brings economic growth to the country but also contributes to improving human capital. This study aims to assess the impact of foreign direct investment on human capital in ASEAN countries. Research design, data and methodology: With data collected from ASEAN countries from 1990 to 2019, panel data analysis is performed with revised model types (the Pooled OLS, Fixed effect model, Random effect model and regression with Driscoll-Kraay standard errors). Result: The results of the regression analysis show that FDI has a positive impact on human capital. At the same time, the study also found that public investment in education also positively affects human capital; the life expectancy factor does not affect human capital. Conclusions: With this research result, the authors also proposed a number of solutions to improve human capital by attracting FDI and improving the efficiency of investment for the education of ASEAN countries. Besides, public expenditure on education also plays an important role in raising human capital. Therefore, investment in education should be promoted further in the future.