engleski

Importance of Human Resource Management at the Macro Level – Impact Analysis of Various Segments of Human Capital on Economic Development of Countries of the World

The goal of each national economy and economic policy of countries of the world is to provide greater and faster rates of development of human capital of its inhabitants, and with optimal investment in people, raising their moral, intellectual and social capital, achieve the higher economic growth rates, high level of economic development and living standard of all its inhabitants. To achieve the goal, is required a systematic approach to the managing of human resources in the implementation of economic policy and to create such a system of moral values, legal and legislative system that will encourage and reward honest behavior, such an education system that will achieve optimal raising of knowledge, skills and abilities of educated personnel and such a network of the state, local and civic organizations that will encourage social connection and cooperation of all its citizens. The research, which deals with the importance of human resource management at the macro level, and impact analysis of various segments of human capital on the level of development of countries of the world, is divided into three parts. The first part gives a brief overview of the theoretical importance of different segments of human capital (the moral, intellectual and social capital) on the personality and success of individuals, the result of business enterprises, and economic growth of countries, with special analysis and emphasis on ranking of influence, or weight factor of each observed segment of human capital. In the second part of the paper is shown the methodology of work and explained data which are used for research and analysis by countries of the world. This is about sample of 52 countries of the world and their statistical data on segments of human capital, for the observed year 2008. The moral capital as part of human capital for research in this paper represents a variable the index of corruption, the intellectual capital as part of the human capital represents a variable the Prosperity Index Education, the social capital as part of the human capital represents a variable the Prosperity Social Capital Index, while the economic development of countries of the world represents a variable the gross domestic product per capita. This is the official statistical data for 52 countries of the world by the organization in London the Legatum Institute, publicly published in year 2009. In the third part of the paper is provided the analysis and interpretation of results of the conducted studies which show the influence of different segments of the human capital on economic development of countries. The study was aimed to test the hypothesis that human capital has a positive and significant impact at the macro level and that countries with more developed human capital, on average are significantly more developed economically and have a faster and higher rates of economic growth. The research further tested the hypothesis that segments of human capital, the moral, intellectual and social capital, have also the positive and significant impact on the economic development of countries of the world, with the fact that the greatest impact on the economic development of the individual country by average have the moral capital, then intellectual, and finally the social capital.

human capital ; moral capital ; intellectual capital ; social capital ; GNP

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