Analysis of state investments into human capital in Slovak Republic
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Date
Journal Title
Journal ISSN
Volume Title
Publisher
Technická Univerzita v Liberci
Technical university of Liberec, Czech Republic
Technical university of Liberec, Czech Republic
Abstract
This article is focused on state or government investment into human capital and on investments into universities, which are supposed to lead to an increase in wages of individuals after finishing such education. That part of income of graduates which is exceeding incomes of people with completed high school education, i.e. income bonus is, on one hand, a motivational factor for individual to study at university and on the other hand it is an opportunity for the state to achieve higher tax incomes in absolute terms due to graduates with higher salaries. The main goal of this article is to analyse investments into the human capital from the point of view of the amount of investment and its profitability, as well as from the point of view of the payback period for state investments in education. Quantitative analysis was provided by plugging in data into seven ratios/formulas. The data were from the Ministry of Education of the Slovak Republic. Results are addressing the issue of globalised education, where the fierce competition will lead to changes that will inevitably require a change in investment schemes as well as a change in behaviour and attitude towards education as such. Paper strives for achieving an advantange that is to stimulate debate on human capital in its broad sense as described in the opening of the paper. The context of this humble research is framed by technology changes in global value chains that effect economy in its structure that is turning to be more dynamic then ever.
Description
Subject(s)
global value chains, investments, capital, human resources, education
Citation
ISSN
1212-3609