The Rate of Return to Investment in Educaton: A Case Study of Lithuania
Analysis of the concept of human capital has shown that human capital is a broad and multifaceted concept that consists of aggregate elements, which include: constantly gained and updated skills and knowledge, abilities (innate or acquired), the experience acquired through work, health and motivation. All of these elements help individuals to improve labour productivity. Estimates of the rate of return of investment in human capital can be arrived at using different methods. This study was based on the private rate of return on investment in human capital using full discounting (or elaborate) method, based on individual age-earnings profiles (including foregone earnings) that vary over time. (fragment of text)
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