Return on investment in education. Case study on education in Romania

Abstract

The aim of this study is to develop, test and validate based on a conceptual research model, the influence of education on the GDP/capita, starting from relevant theories and empirical models from literature or implementing additional impact models and variables. Building on the model developed by Mincer (1995) on the yield rates of investment in education, we applied econometric models for Romania, for the period 1960-2010. The results led to a main conclusion, namely, the importance of investment in education is undeniable, it has positive effect on the economic growth of Romania.

Human Capital Quality and Development: An Employers' and Employees' Comparative Insight

“…We consider being necessary to extend our research to other counties and regions of Romania in order to verify the perception of the proposed concept of human capital quality and possibilities to develop the organisational human capital. There are some studies regarding the effect of education on economic growth in Romania (Neagu, 2012, Pribac et al, 2016, but at organisational level, the link between labour force quality and economic performance is less studied. Our study has some limits.…”