Assessment of the relationship between investment in human capital and the level of socio-economic development of a country

Tyumen State University Herald. Social, Economic, and Law Research

Release:

Vesntik TSU. Economy (#11). 2013

Title:

Assessment of the relationship between investment in human capital and the level of socio-economic development of a country

Authors: Dmitry Yu. Rudenko, Albina B. Tilimbaeva

About the authors:

Dmitry Yu. Rudenko, Cand. Sci. (Econ.), Associate Professor, Department of World Economy and International Business, Tyumen State University; d.y.rudenko@utmn.ru

Albina B. Tilimbaeva,

Assistant, Economics and International Relations Department, Tyumen State Academy of World Economics, Management and Law

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Abstract:

This article examines the structure of the human capital and determines the impact of human capital investments on the socio-economic development of countries. The human capital investment structure and its indicators have been defined by the analysis of modern concepts of human capital formation. On the basis of factor analysis all the human capital investment indicators are grouped as follows: investments in welfare capital and innovations; investments in child health care capital; public investments in educational capital; government investments in educational and
healthcare capitals. The carried out regression analysis enabled us to conclude that the level of the socio-economic development of a country is greatly affected by innovation investments and government investments in educational capital. The suggested strategies may be used by governmental authorities in defining socio-economic activities for the area development.

Keywords:

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