HOW THE INVESTMENT IN R&D IS RELATED TO THE HUMAN
      CAPITAL ACCUMULATION? THE CASE OF ROMANIA


                Olimpia Neagu, “Vasile Goldis” Western University of Arad

ABSTRACT: The paper tries to clarify the link between the investment in R&D and the
accumulation of human capital. In the paper is analyzed the investment in R&D at the EU
level, underlying the case of Romania and the link between this type of investment and the
human capital accumulation. At the EU level, the R&D investment is differently influenced by
the human capital accumulation: the educational level of the population and doctorate
students in science and technology are influencing the employment in knowledge-intensive
sectors and doctorate students in science and technology are influencing the R&D personnel.
In Romania, human capital accumulation can stimulate both, inputs and outputs of the R&D
investment. The quality of the human capital is important: only the tertiary educated people
and graduates in science and technology can influence the R&D investment.

Key words: R&D investment, human capital accumulation, knowledge-based society, knowledge
workers

JEL Codes O30, O33, J24