Investments into the human capital as a factor of innovative economy formation

  • Tat'iana Tsetsiarynets Belarus State Agrarian Technical University
Keywords: human capital, GDP, investments, innovations, education, expenses of the state budget

Abstract

Article is devoted to the current problems characteristic not only for Belarus, but practically to all countries of the former Soviet Union which main essence consists in the analysis of investment ensuring formation of the human capital. Purpose: the analysis and assessment of the key macroeconomic indicators, socio-economic factors and institutional conditions of investment ensuring formation of the human capital in Republic of Belarus. Methods – are used the main methods of scientific knowledge, such as analysis, synthesis, comparisons, tabular, etc. Results of work: The paradigm of innovative and technological development which is based on such progressive factors as digitalization of economy, scientific and technical progress, the intellectual capital, industrialization, etc. has the dominating impact on formation of modern society. It is aggregated them it is possible to divide into two big groups: the investment, including structure and structure of fixed assets and intangible assets of the industry, volumes of investment resources, innovative activity, and the human, including quantities of human resources, labor productivity level, degree of qualification of workers, scientific and innovative potential, etc. Their influence is defining and does not raise doubts in scientific and practical community. Formation of innovative economy assumes active introduction of achievements of scientific and technical progress, modernization of the production technology of products, improvement of organizational and economic mechanisms of management. The economy of knowledge is produced directly by the people generating the new ideas, knowledge, technologies. Progressive rates of technological progress are caused not only by existence of certain material and technical resources, but also quantitative structure and a qualitative condition of human resources. In this regard the special relevance is acquired by questions of investment of human development for the purpose of transformation of human resources of society in the most valuable capital – human. In article the main theoretical approaches to definition of the concept «human capital» are considered. The analysis of the key macroeconomic indicators reflecting trends in the sphere of investment ensuring formation and development of the human capital is carried out. An assessment of an intellectual and innovative component of the human capital in Republic of Belarus is given. Conclusions: The main directions of increase in efficiency of investment ensuring formation and development of the human capital are defined.

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Author Biography

Tat'iana Tsetsiarynets, Belarus State Agrarian Technical University

PhD of Economics Sciences, Associate Professor of "Economics and Organization of agriculture"

Published
2019-03-30
How to Cite
Tsetsiarynets, T. (2019). Investments into the human capital as a factor of innovative economy formation. University Economic Bulletin, (41), 75-82. https://doi.org/10.31470/2306-546X-2019-41-75-82
Section
Knowledge Economy, Innovative Economy