Human Capital, Entrepreneurship and Rural Growth of the Serbian Economy
Journal Title: Acta Economica - Year 2018, Vol 16, Issue 29
Abstract
In the new economy, based on knowledge and innovation, the concept of human capital is becoming an increasingly important factor of growth (and development) not only for urban, but also for rural areas. The studies dealing with the analysis of the available human capital at the local level have highlighted its significant presence in rural areas characterised by a “specific environmental quality”, defined in the literature as rural outdoor amenities. Highly educated individuals who live and work with their families in these areas are responsible for the successful transformation of the local economy, employment growth, the improvement of living standard, development of entrepreneurship, and achievement of high rates of economic growth. This paper is aimed at analysing the relevance of the concept of human capital for rural development, with special emphasis on the rural development of Serbia. The paper presents the results of an empirical study of the model of economic growth of rural areas in Serbia, based on the panel data analysis, during a five-year period. According to the results, human capital and entrepreneurship have a significant impact on economic growth. Additionally, there are significant differences in the rate of economic growth between the rural areas with high and low outdoor amenities in Serbia. Human capital and entrepreneurship are represented in the models of rural economy growth as determinants of the development mechanism through which rural economies grow.
Authors and Affiliations
Sonja Josipović, PhD, Dejan Molnar, PhD
Keywords
Related Articles
- EP ID EP43870
- DOI https://doi.org/10.7251/ACE1829039J
- Views 281
- Downloads 0
REGIONAL ECONOMIC INTEGRATIONS-FORMS, „COSTS AND PROFITS”
There are no doubts the integrations process covered practically all countries of the world. The integrations by their character present the institutional form of mutual economic, technological, legal, cultural and other...
THE ANALYSIS OF THE BOTTOM LINE OF PROFITABILITY AND THE ANALYSIS OF THE RISK OF STOCK COMPANY
Analysis of the bottom profitability point aims to define necessary production volume, i.e. sales while the neutral business and financial result of the company is being realized. This analysis is short-term but due to i...
Republic of Srpska
The constitution of former Socialist Federal Republic of Yugoslavia (SFRY) from 1974 created the legal basis for transferring power from the federal to republic level, and even to the regional one. The elections at the f...
Actual trends of financial system regulation changes
Every financial system due to risks of its complexity, dynamism and openness, is inevitably controlled and regulated by local and international regulations. Advantages of regulation for the health of the financial system...
The Reasons for Additional Growth Limit of Consumer NonPurpose Loans in the Banking Sector of Bosnia and Herzegovina
The growth in consumer non-purpose loans leads to the reduction in BiH current account balance and amplifies the current account deficit. According to regression models, the commercial loan has the same effect on the curr...