DOI: https://doi.org/10.36719/2789-6919/46/45-50
Irada Baghirova
Nakhchivan State University
PhD in Economics
https://orcid.org/0009-0001-9326-3322
iradebagirova@yahoo.co
Human Resources are the Key of Economıc Development
Abstract
After the 1980s mostly in studies on economic development, economical, social and cultural characteristics of countries are emphasized. Concept of human capital that staying in backround at studies have begun to be studied in last 40 years. Human capital has replaced the country's growth and development policies as a classical production factors in addition to labour, physical capital, natural resources and enterprising factors. Human capital expressed as the sum of the knowledge, skills and abilities that has individuals. Today the impact of human capital on economic development has become more important. Economic development, in addition to economic growth in the country, it is a concept involving structural developments in the country. Human capital is the most important factor that performs the structural development and tranformation in the countries. For this reason, aimed to demonstrate the relationship development and human capital in countries. Therefore, human capital is seen as the most important factor that will carry out the development with structural progress and transformation in the countries. In this studies, we will try to explain the role of human capital on economic development. In recent years human capital become most important determinant of economic development. In this context, qualitative factors such as education and health will be referred to the importance of human capital in economic development and will be discussed view of human development.
Keywords: economic development, human capital, technological development, healthcare and education, information society