ACTA ECONOMICA Received: 07.11.2018 Volume XVI, No. 29 / December 2018 Revised: 12.11.2018 ISSN 1512-858X, e‐ISSN 2232‐738X Accepted: 13.12.2018 ORIGINAL SCIENTIFIC PAPER UDC: 330.341:005.952(497.11) DOI: 10.7251/ACE1829039J COBISS.RS-ID 8038168 Sonja Josipović, PhD1 Dejan Molnar, PhD2 Human Capital, Entrepreneurship and Rural Growth of the Serbian Economy Људски капитал, предузетништво и рурални раст српске привреде Abstract In the new economy, based on knowledge and innovation, the concept of human capital is becoming an increasingly important factor of growth (and development) not only for urban, but also for rural areas. The studies dealing with the analysis of the available human capital at the local level have highlighted its significant presence in rural areas characterised by a “specific environmental quality”, defined in the literature as rural outdoor amenities. Highly educated individuals who live and work with their families in these areas are responsible for the successful transformation of the local economy, employment growth, the improvement of living standard, development of entrepreneurship, and achievement of high rates of economic growth. This paper is aimed at analysing the relevance of the concept of human capital for rural development, with special emphasis on the rural development of Serbia. The paper presents the results of an 1 University of Belgrade, Faculty of Mechanical Engineering, Republic of Serbia, sjosipovic@mas. bg.ac.rs, https://orcid.org/0000-0002-1091-4143 2 University of Belgrade, Faculty of Economics, Republic of Serbia,
[email protected], https://orcid.org/0000-0002-6081-8141 39 Human Capital, Entrepreneurship and Sonja Josipović, PhD et al.