Tabasmiti Mishra, KIIT School of Law
ABSTRACT
Human capital differences account for around half of the variance in productivity between nations. As a result, in order to build successful development programs, we must first understand the drivers of human capital creation. My dissertation examines the production and use of human capital, focusing on its intangible forms such as skills, capacities, and know-how.
The impacts of occupational and educational constraints on human capital stock and aggregate production are explored in the first chapter of my dissertation. In most underdeveloped nations, I find that student’s academic abilities have virtually little bearing on their professional choices. This data shows that occupational restrictions are more common in underdeveloped nations. By calibrating a general equilibrium model of occupational choice, I assess the production losses caused by occupational obstacles.
The consequences of economic expansion on educational quality are the subject of the second chapter of my dissertation. Several human capital accumulation models predict that salaries have a positive causal influence on human capital through increasing the consumption of educational products at given levels of education. I discovered that typical domestic wages for migrants aged zero to twenty years had a considerable beneficial impact on their future earnings.
Human capital can be used to develop economic or private-sector wealth. Human capital is a resource that may be used to benefit the public good in a government agency. One of the most significant factors of economic and organizational performance is how human capital is generated and managed. Human capital is derived from the human-resource capitalism economic model, which highlights the link between increased productivity and the necessity for long-term expenditures in human resource development. This concept can be used on a large scale when human capital investments are thought to have an impact on national and global economic performance.
