THE INFLUENCE OF HUMAN RESURCES ON ECONOMIC GROWTH DEVELOPMENT

This research paper present an attempt to clarify relevance of the human capital concept in labour economics and theories of economic growth. The characteristics of human capital are compared with those of the “ovend“ capital while the aspects of market behaviour of individuals, households and firms concering the acquiring of productive skills are discussed. The process acquiring productive skills has all the characteristics of investments including the problems of financing, measurement of inputs and outputs, and of rational choice among available possibilities. The role of human capital in economic development is explained and the influence of disposable human capital on international trade and movements of productive factors considered.

Key words: human capital, economic growth, economic development, international trade;

JEL Classification: J24