Drukerovskij vestnik

Drukerovskij vestnik 2016; 2:

CAPITALIZATION OF PROFESSIONAL KNOWLEDGE AS A FACTOR OF ECONOMIC DEVELOPMENT

V.P. Sirotin, A.A. Egorov

Sirotin Viacheslav P. – Candidate of Engineering Sciences, Professor of
National Research University - Higher School of Economics, Moscow, Russia.

20 Myasnickaya st., Moscow, 101000, Russia
Тел.: +7(916) 394-41-50; e-mail: vpsirotin@yandex.ru

Egorov Alexey А. – student of National Research University - Higher
School of Economics, Moscow, Russia.

20 Myasnickaya st., Moscow, 101000, Russia
Тел.: +79164961022; e-mail: gelya-v@mail.ru

Abstract

The paper is focused on the study of the relationship between the duration of
educational process and the fundamental macroeconomic indicators in different countries.
We estimate the physical capital stock elasticity and human capital elasticity of the gross
domestic product for considered countries. Average years of schooling is used as a measure
of the human capital stock and this approach allows us to use Cobb-Douglas production
function for estimation of the return to education.

Keywords: physical capital, human capital, return to education, wages, level of education.

Full text: [in elibrary.ru]

References