INTELLECTUAL CAPITAL AND HUMAN DEVELOPMENT INDEX A COMPARATIVE ANALYSYS OF BRICS and TURKEY

Abstract

In today’s knowledge-based world, intellectual capital has been the key factor for development for achieving sustainable competitive advantage, a paradigm change has occurred and as a result of this change, the importance of physical assets has decreased dramatically and another type of capital which is respectively new; intellectual capital has started to gain important among both academicians and practitioners all over the world. Intellectual capital has three sub-dimensions including; human capital, structural capital and relational capital and these together directly effect the capacities of productivity, innovation and value creation. Human Development Index which is prepared by United Nations is one of the most important comprehensive resource for evaluating countries globally in terms of health, education and income. Additionally, the world has perhaps been going through a very sensitive period than ever seen in history. Due to wars, economic crises, threats of new pandemics and waves of migration, political balances are shifting; alliances are either breaking apart or being reformed, and Turkish Republic is at some kind of decision point. Due to the long lasting and inconclusive negotiations Turkey is moving away from European Union and approaching to other blocks such as BRICS. In this research Turkey has been compared with BRICS and top countries in terms of human development by the help of Human Development Index. At the end of the detailed comparisons it is seemed that BRICS countries and Turkey is not at the desired position, and necessary revisions should immediately made to be able to reach  the desired level.