Evaluation of Human Capital in Selected EU Countries Using Cluster Analysis

Abstract

The study evaluates the quality of human capital on the basis of the Eurostat data. There was also prepared a short bibliography review of the previous research which indicates various definitions of the term human capital. To evaluate its quality in selected EU countries. There was used cluster analysis – the k-medoid method. The analysis was performed for three periods: 2008, 2011 and 2014. The selected states were divided into 4 clusters, and Norway constitute a single-element group. In the other cases, it may be stated that the quality of capital may be determined through the joint economic past or historical traditions.