THE EMPIRICAL FINDINGS FOR THE RELATIONSHIP BETWEEN GLOBALIZATION AND HUMAN CAPITAL IN BRICS-T COUNTRIES

In developing countries, opportunities and risks have created by globalization have a broad scope that can be evaluated in different dimensions. When considering in the context of liberalization trends that brought by neoliberal globalization over the past three decades, the mobility of trade, capital and labor have also been closely affect the human development. In today’s changing world, while individuals’ demand for the development of human capital factors such as education, health and culture increase, skilled labor demand of multinational companies also rises. This relationship between human capital and globalization has examined for the BRICS-T countries (Brazil, Russia, India, China, South Africa and Turkey) that realize important breakthrough in the global economy. According to the Kónya (2006)’s causality test results using the data covering for the period between 1992 and 2017, it was obtained that there is a feedback causality relationship between globalization and human capital in South Africa and there exists a one way causality running from globalization to human capital in Russia and China.