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Transformation of Human Capital as a Driver of Innovative Economy

Author

Listed:
  • Renata Gimranova
  • Yerkara Aimagambetov
  • Karina Nevmatulina
  • Albina Garipova
  • Saule Mazhitova
  • Saltanat Kudaybergenova

Abstract

The purpose of this study was to identify key factors that have a significant impact on the level of high-tech production in the region and the development of human capital in seven countries of the Caucasus and Central Asia. A comprehensive literature analysis was carried out to achieve this goal, including data from several countries of the Caucasus and Central Asia, including demographic data, education levels, labor market indicators, health indicators, and research activities. The authors constructed a model of multiple spatial regression, including seven spatial objects and a 5-time series. A qualitative model of cumulative panel regression without signs of multicollinearity was obtained as a result of the step-by-step elimination of collinear and nonessential variables. The results of the study revealed three key factors that are closely and directly related to the level of production of high-tech products. Two relate to the education sector – "the number of university graduates in the field of science and technology", and "the number of researchers per 1 million inhabitants" and one indicator characterizes the labor market – "the employment level in the economy". The authors did not identify a close relationship between the level of high-tech production and economic factors, such as cost and productivity, which contradicts the results of other research and requires more careful study. The results of the research can be useful in the development of measures to promote human capital and innovation policy of the countries of the Caucasus and Central Asia.

Suggested Citation

  • Renata Gimranova & Yerkara Aimagambetov & Karina Nevmatulina & Albina Garipova & Saule Mazhitova & Saltanat Kudaybergenova, 2023. "Transformation of Human Capital as a Driver of Innovative Economy," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 12, November.
    • Handle: RePEc:bjz:ajisjr:2497
    DOI: https://doi.org/10.36941/ajis-2023-0164
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    References listed on IDEAS

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    1. Sajjad Barkhordari & Maryam Fattahi & Naser Ali Azimi, 2019. "The Impact of Knowledge-Based Economy on Growth Performance: Evidence from MENA Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(3), pages 1168-1182, September.
    2. Vladimir Iontsev & Aminat Magomedova, 2015. "Demographic Aspects of Human Capital Development in Russia and Its Regions," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 89-102.
    3. Muhammad Asif Qureshi & Jawaid Ahmed Qureshi & Ammar Ahmed & Shahzad Qaiser & Ramsha Ali & Arshian Sharif, 2020. "The Dynamic Relationship Between Technology Innovation and Human Development in Technologically Advanced Countries: Fresh Insights from Quantiles-on-Quantile Approach," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 152(2), pages 555-580, November.
    4. Iontsev, V. A. & Magomedova, A. G., 2015. "Demographic aspects of the development of human capital in Russia and its regions," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 1(3), pages 467-477.
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