Features of the Influence of Human Capital on Economic Development: The Case of Ukraine
DOI:
https://doi.org/10.15549/jeecar.v8i3.763Keywords:
Human Capital, Economy, Ukraine, Healthcare, Education, Competence, InvestmentAbstract
The purpose of this article is to substantiate the nature of the relationship between the development of human capital (HC) and the development of the economy of Ukraine. Using the Granger test and cognitive modeling, the features of the development of HC in modern conditions and its influence on the country's economic development have been determined, and the dominant factors influencing the development and quality of HC have been empirically substantiated. The ambiguous nature of the influence of HC on the country's economy due to the inefficiency of spending in the field of education and health care has been established using the impulse modeling method. The positive impact of the development of HC on the development of the economy is leveled with the growth of investment in education and health care, which is due to the low efficiency of expenditures and the insufficient level of competence of state bodies.
References
Abdelmajied, F., & Safijllin, L.N. (2018). Approaches for measuring human capital and its effect on economic growth. Opcion, 34, 957-978
Aganbegyan, A.G. (2017). Human capital and its main component is the “knowledge economy” as the main source of socio-economic growth. Economic strategies, 3. https://stolypin.institute/novosti/chelovecheskij-kapital-i-ego-glavnaya-sostavlyayushhaya-sfera-ekonomiki-znanij-kak-osnovnoj-istochnik-sotsialno-ekonomicheskogo-rosta
Alsan, M., Bloom, D. E., & Canning, D. (2006). The effect of population health on foreign direct investment inflows to low- and middle-income countries. World development, 34(4), 613–630. https://doi.org/10.1016/j.worlddev.2005.09.006 DOI: https://doi.org/10.1016/j.worlddev.2005.09.006
Beley, N., Kudlatsky, Ya., & Kovalev, A. (2020). From walls to quality: the beginning of a long journey. https://zn.ua/ukraina-1991-2020/ot-sten-k-kachestvu-nachalo-dlinnoho-puti-.html
Bieli?ski, T. (2016). Innovativeness and human capital as a main source of competitiveness of Chinese economy. Forum Scientiae Oeconomia, 4(1), 21-31.
Contreras-Reyes, J.E., & Hernández-Santoro, C. (2020). Assessing Granger-Causality in the Southern Humboldt Current Ecosystem Using Cross-Spectral Methods. Entropy, 22, 1071. doi:10.3390/e22101071 DOI: https://doi.org/10.3390/e22101071
Friedman, O., & Trines, S. (2019). Education in Ukraine. https://wenr.wes.org/2019/06/education-in-ukraine
GORELOVA, G., PANKRATOVA, N., & BORISOVA, D. (2019). Problems of interregional integration, cognitive modeling. IFAC-PapersOnLine, 52, 25, 168-173. https://doi.org/10.1016/j.ifacol.2019.12.467 DOI: https://doi.org/10.1016/j.ifacol.2019.12.467
Habibov, N. (2016). Effect of corruption on healthcare satisfaction in post-soviet nations: A cross-country instrumental variable analysis of twelve countries. Social Science & Medicine, 152, 119-124. https://doi.org/10.1016/j.socscimed.2016.01.044. DOI: https://doi.org/10.1016/j.socscimed.2016.01.044
High Fliers Research. (2021). The Graduate Market in 2021. https://www.highfliers.co.uk/download/2021/graduate_market/GM21-Report.pdf
Interfax. (2021). Zelensky signs decree to increase minimum wage for doctors. https://en.interfax.com.ua/news/general/750905.html
Ismayilzade, A. A., Guliyeva, S., Teymurova, V., Azizova, R., & Alishova, C. (2021). The impact of Covid-19 on the quality of human capital for the economic development of Azerbaijan. Journal of Eastern European and Central Asian Research, 8(1), 26-39. https://doi.org/10.15549/jeecar.v8i1.639 DOI: https://doi.org/10.15549/jeecar.v8i1.639
Karaçor, Z., Güvenek, B., Ekinci, E., & Konya, S. (2019). Panel estimation for the relationship between education expenditure and economic growth for OECD countries. Forum Scientiae Oeconomia, 6(2), 7-20. https://doi.org/10.23762/FSO_VOL6NO2_18_1
Kupets, O. (2016). Education-job Mismatch in Ukraine: Too Many People with Tertiary Education or Too Many Jobs for Low-skilled? Journal of Comparative Economics, 44, 125-147. https://doi.org/10.1016/j.jce.2015.10.005 DOI: https://doi.org/10.1016/j.jce.2015.10.005
Márti, S.C. (2004). Investing in health for economic development. https://www.who.int/macrohealth/action/sintesis15novingles.pdf
Megits, N., Neskorodieva, I., & Schuster, J. (2020). Impact assessment of the COVID-19 on trade between Eastern Europe and China. Journal of Eastern European and Central Asian Research, 7(3), 385-399. https://doi.org/10.15549/jeecar.v7i3.579 DOI: https://doi.org/10.15549/jeecar.v7i3.579
OECD. (2001). The Well-being of Nations. The Role of Human and Social Capital. https://doi.org/10.1787/9789264189515-en DOI: https://doi.org/10.1787/9789264189515-en
OECD. (2021a). GDP per hour worked. https://data.oecd.org/lprdty/gdp-per-hour-worked.htm
OECD. (2021b). Population with tertiary education. https://data.oecd.org/eduatt/population-with-tertiary-education.htm
Our World In Data. (2021). Human Capital Index vs. GDP per capita. https://ourworldindata.org/grapher/human-capital-index-vs-gdp
Pirtskhalaishvili, D., Paresashvili, N., & Kulinich, T. (2021). The gender aspects of career development and leadership in organizations. Journal of Eastern European and Central Asian Research, 8(2), 255 - 266. https://doi.org/10.15549/jeecar.v8i2.654 DOI: https://doi.org/10.15549/jeecar.v8i2.654
Psacharopoulos, G., & Patrinos, H.A. (2018). Returns to Investment in Education. A Decennial Review of the Global Literature. Policy Research Working Paper 8402. DOI: https://doi.org/10.1596/30154
QS. (2021). QS World University Rankings. https://www.topuniversities.com/university-rankings/world-university-rankings/2021
Romaniuk, P., & Semigina, T. (2018). Ukrainian health care system and its chances for successful transition from Soviet legacies. Globalization and health, 14(1), 116. https://doi.org/10.1186/s12992-018-0439-5 DOI: https://doi.org/10.1186/s12992-018-0439-5
State Statistics Service of Ukraine. (2021). Statistical Information. http://www.ukrstat.gov.ua/
The World Bank Group. (2020). Investing in Human Capital a Top Priority for Ukraine Amid Pandemic, says World Bank. https://www.worldbank.org/en/news/press-release/2020/09/16/investing-in-human-capital-a-top-priority-for-ukraine-amid-pandemic-says-world-bank
The World Bank Group. (2021a). Human Capital Project. https://www.worldbank.org/en/publication/human-capital
The World Bank Group. (2021b). GDP per capita (current US$). https://data.worldbank.org/indicator/NY.GDP.PCAP.CD
Trovato, M.R. (2020). Human Capital Approach in the Economic Assessment of Interventions for the Reduction of Seismic Vulnerability in Historic Centres. Sustainability, 12, 8059. doi:10.3390/su12198059 DOI: https://doi.org/10.3390/su12198059
World Economic Forum. (2013). The Human Capital Report 2013. http://reports.weforum.org/human-capital-index-2013/#=
Zelinska, ?., Andrusiv, U., & Simkiv, L. (2020). Knowledge economy: trends in the world and analysis of Ukraine. Journal of Eastern European and Central Asian Research, 7(1), 104-113. https://doi.org/10.15549/jeecar.v7i1.325 DOI: https://doi.org/10.15549/jeecar.v7i1.325
Zhao, Y.L. (2020). Innovation, Demand for Skills, and Productivity Growth. http://econweb.umd.edu/~zhao/files/JMP_zhao.pdf
Zheng, L., & Lu, Y. (2020). Health Human Capital Investment and Economic Growth. Technium Social Sciences Journal, Technium Science, 8(1), 229-248 DOI: https://doi.org/10.47577/tssj.v8i1.707
Technium Social Sciences Journal, Technium Science, 8(1), 229-248.
Downloads
Published
How to Cite
Issue
Section
License
The JEECAR journal allows the author(s) to hold the copyright and publishing rights of their own manuscript without restrictions.
This journal applies the Creative Attribution Common License to works we publish, and allows reuse and remixing of its content, in accordance with a CC-BY 4.0 license.
Authors are free to: Share — copy and redistribute the material in any medium or format and Adapt — remix, transform, and build upon the material for any purpose, even commercially.
Under the following terms: Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
No additional restrictions — The author may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
The JEECAR Journal is committed to the editorial principles of all aspects of publication ethics and publication malpractice as assigned by the Committee on Public Ethics.
