The Crisis'Efects on the Stock of Romanian Human Capital (original) (raw)

2009, Annals of Faculty of Economics

The knowledge, skills and abilities, as main aspects of human capital, have significant influences on the economic development of a country. Unfortunately, in Romania, the low level of human capital at the young people, combined with one of the Europe's lowest rates of life long learning, could determine a future continuous degradation of the economy. Moreover, the public financial support of the Romanian learning system, from 2007-2008, was suddenly interrupted by the international financial crisis. Yet, although the period of crisis seems to be unfavourable, it has to be mentioned that the future belongs only to those countries that are supporting the innovation, based on a high stock of human capital. Therefore, Romania should try to attract and maintain inside the country those people that have previously accumulated human capital through their temporary migration to the world developed economies.