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Theoretical and Applied Economics
No. 10 / 2013 (587)

The role of the human capital and investment in human capital within the sustainable socio-economic development. How labour force migration affects competitiveness?

Liana SON
West University of Timisoara
Graţiela Georgiana NOJA
West University of Timisoara

Abstract. The research aims to analyse the role played by the human capital investment in shaping international migration trends and influencing socio-economic development for the EU New Member States during the last decade. Our analysis is based on developing double-log macro-econometric models that combine cross-sections and time series in a panel structure, by using a set of indicators specific for the migration process, as well as for the economic activity and education, as main explanatory variables. Furthermore, the study focuses on a comparative approach for New Member States, our random and fixed effects models using several quantitative and qualitative proxies in order to highlight the relationship and interdependence between emigration, human capital investment and socio-economic development.

Keywords: education; international migration; economic development; competitiveness; macro-econometric modelling.

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