Human Capital in the Development of Region’s Economy: High-Quality Higher Education as Investment in Human Capital
Keywords:
Human capital, regional economy, economic growth of the region, economic development factor, investment, education, educational system, training of qualified professionals, quality of higher education, national wealth, labour productivityAbstract
Human capital is receiving increasing attention throughout the world, at the regional, organizational and individual levels. The article examines the human capital and the quality of higher education. It shows the role of human capital as one of the factors of region’s economy growth, using various normative, statistical and analytical documents, scientific publications: domestic and foreign works, considering the concept of “human capital” which are the raw data of the study. The article uses theoretical methods such as synthesis, generalization, and concretization as well as the deductive method, the statistical analysis, comparison, interpretation. The research proposes a model of the «human capital» definition and describes its main structural components in the modern world. It has been established that investment in human capital should have an impact on the sustainable development of the region and the country as a whole. The article provides an analysis of the social and economic situation in the Republic of Tatarstan, an overview experience of formation, accumulation, successful functioning and development of human capital in the region. The choice of the Republic of Tatarstan is based on the fact that it is one of the most economically developed entities of the Russian Federation. It is concluded that the effective development of the region’s economy is based on skilled workers and specialists in priority sectors of the economy through the development of vocational education and skills development. The article contains the results of the learners survey as well as proposals for the effective achievement of qualitative training of specialists and accumulation of human capital. The scientific contribution of the work is the use of the proposed toolkit to provide a scientific basis for the strategic development of the region’s economy. The future research can be focused on expanding the set of factors for considering the regional economic development.
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