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The Risk Of Human Capital Operation And Co-interests Of The Institutional Framework

Posted on:2003-11-29Degree:MasterType:Thesis
Country:ChinaCandidate:Z Y LvFull Text:PDF
GTID:2206360092986960Subject:National Economics
Abstract/Summary:PDF Full Text Request
With the coming of 21st new century, the world economy is on the way to turn "the Industry Economy" into "Knowledge Economy", the World Political Pluralism and Economy Globalization have made a great progress, the competition between countries becomes more and more heated, on such occasions, there always is one problem on each country's mind: what's the foundation to achieve the Sustainable Development.Some countries' experiences answer: it is high level of national quality and talent persons. But Human Capital can't be operated on an efficient path as well as be produced and accumulated automatically, let along to supply great motivation to economic growth as its result. While it is turning potential productivity into real productivity, Human Capital must pace through links such as selection, development, allocation, motivation and safeguard, each of which is full of risk and uncertainty, so the whole process needs to be managed from the optimal using of Human Capital, much more to establish the framework of accommodating policies. Because of these, not only the Human Capital's power to some counties' success, but also its strong loss and obstruction to many ones must we realize and research.To traditional point of view, shutting off risk or uncertainty, even completely averting to them is the best way to reduce the economic losses. Also as we all know, there are still many a people who go in for these risk affairs, even after they are well ware of the proficiency and loss are huge. Then people try to explain them as speculation. However, I think that the word "speculation" mustn't come with the means of evaluation, which is just as we all know, if there weren't speculation, there isn't stock market. So the right methods are to director and regulate the speculative action. To some extend, the entrepreneurs, which are in great deficiency in China, can be named as "speculators". From above all, we make it clear that the risk itself haven't the character of good or bad, only for different person, or under different framework of institutions, it specified as "excess benefit" or "undue hardship". There is a Complementarity between the benefit and the traditional risk. So from the point of Complementary Benefit of Risk, research Human Capital Operation;building institutions to provide the foundation of Human Capital Operation, these two becomethe common demand of theory and reality.On these cases, this thesis is developed as following three parts, which includes my main new views.First part of my thesis, based on the conclusion that Human Capital investment and human capital accumulation are foundations of continuous economic growth, defining the definition of Human Capital Operation surmounts the shortage that original theory of Human Capital laid particular stress on Human Capital Investment; from the complementarity of benefit and risk, defines the definition of Complementary Benefit of Risk, which makes it possible to treat the risk positively and from the point of diverting the risk into benefit develop the main arguments: analysis kinds of benefit and risk factors which maybe come from the whole process of Human Capital Operation under the conditions of Knowledge Economy and under the Economy Globalization shock; based on the endogenous institutional requisitions to Human Capital Operation, try to establish a new framework, whose aim is to minimize the complementary loss of risk and at the same time to maximize the Complementary Benefit of Risk, in order to operate the efficient Human Capital efficiently.According to above theoretical analysis in the first part, the second part of the thesis provides some verification to the preceding theory by analyzing the current situation of the Chinese Human Capital Operation. Moreover, the in-depth analysis to its characters and its institutional reasons makes a base to the third part of thesis-set up the institutional framework that is contribute to the optimal using of the dominant producing factors of Human Capital. Researching the Human Capital O...
Keywords/Search Tags:Human Capital, Human Capital Operation, Complementary Benefit of Risk, Institution
PDF Full Text Request
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