Law and economics of training: a taxonomy of the main legal and institutional tools addressing suboptimal investments in human capital development

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• 作者：Giulio Pedrini
• 关键词：Training ; Market failures ; Economics of contracts ; Labour law
• 刊名：European Journal of Law and Economics
• 出版年：2017
• 出版时间：February 2017
• 年：2017
• 卷：43
• 期：1
• 页码：83-105
• 全文大小：
• 刊物类别：Business and Economics
• 刊物主题：Law and Economics; European Integration; Public Finance; Commercial Law;
• 出版者：Springer US
• ISSN：1572-9990
• 卷排序：43

文摘

Economic literature has widely acknowledged the growing role of firm training in the knowledge economy. Training fosters labour productivity, boosts competitiveness, and strengthens firms’ capacity to innovate. This key role of training, however, raises relevant issues in terms of the optimal level of the corresponding investment. In fact firms that bear training costs may not be able to fully appropriate the relevant benefits. In addition training may facilitate structural changes and stimulate growth nationwide. Efficiency reasons thus justify the existence of legal and/or institutional tools, either voluntary or mandatory, aimed at addressing suboptimal investments in human capital development. The purpose of this study is to draw a systematic taxonomy of the main legal and institutional devices able to address the underlying inefficiencies of training investments. Training is on the top of the political agenda in many countries. The European Union is committed to increase adults’ participation in lifelong learning and to improve the quality of training programs and institutions. However, while training is of increasing political interest, a proper tool-box for policy makers is still missing.