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Estimation of Human Capital Influence on Economic Growth in Russian Regions under Conditions of Financial Shortage

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  • Galina Afanasyevna Untura

    (Institute of Economics and Industrial Engineering SB RAS; Novosibirsk National Research State University)

Abstract

Article covers obstacles and trends of science and higher education financing relatively theirs integration for human capital and innovation process activation necessity for Russian Federation. On the base of Russian and other countries experience it was shown in the article that endogenous growth models in economic theory are aimed at the assessment of science and education expenses as economic background to increase human capital quality and it’s provisions for dynamics of growth. Necessity for knowledge spillover effects inclusion in addition to human capital is explained in methodological part. Definition of this meanings and their evaluation in a model is given. Definitions of empirical model is elaborated with tested hypothesis validating interconnection of GRP growth with indicators on education expenditures with regard to spillover effects. Idea is proposed that all this spheres generating human capital while promoting advances in science were experiencing lack of financing in comparison to their possible influence on growth. Besides it is expected that expenditures on higher education will create knowledge spillover that will positively affect the dynamics of economic growth in the regions. Main goal of the paper is to obtain estimations of science and higher education financing influence on regional economic growth alongside with spillover effects. Government based statistics on 80 regions was used. It was proven that expenditures on higher education generated spillovers between all regions of Russian Federation while promoting regional growth. Methods obtained in paper can be implemented in science development strategic plans, higher education, innovations and regions in general

Suggested Citation

  • Galina Afanasyevna Untura, 2019. "Estimation of Human Capital Influence on Economic Growth in Russian Regions under Conditions of Financial Shortage," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 1, pages 107-131.
    • Handle: RePEc:far:spaeco:y:2019:i:1:p:107-131
    DOI: 10.14530/se.2019.1.107-131
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    References listed on IDEAS

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    1. M. A. Kaneva & G. A. Untura, 2018. "Interrelation of R&D, Knowledge Spillovers, and Dynamics of the Economic Growth of Russian Regions," Regional Research of Russia, Springer, vol. 8(1), pages 84-91, January.
    2. Rudnik, B. & Romanova, V., 2017. "The Budgetary Financing of Socio-Cultural Sphere," Journal of the New Economic Association, New Economic Association, vol. 34(2), pages 124-142.
    3. Maria Kaneva & Galina Untura, 2017. "Innovation indicators and regional growth in Russia," Economic Change and Restructuring, Springer, vol. 50(2), pages 133-159, May.
    4. Pritchett, Lant, 1996. "Where has all the education gone?," Policy Research Working Paper Series 1581, The World Bank.
    5. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Cited by:

    1. Vyacheslav N. Ovchinnikov, 2020. "Nobel Prize in Economic Sciences 2019: Poverty Alleviation and Experiments in Development Economics," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 120-131, April.

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    More about this item

    Keywords

    human capital; science; higher education; financing; integration; region; econometric model; economic growth; region; Russia;
    All these keywords.

    JEL classification:

    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education

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