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Human Capital in the Post-War Recovery of the Energy Industry

Author

Listed:
  • Nina Petrukha

    (Kyiv National University of Construction and Architecture, Kyiv, Ukraine)

  • Oleh Nazukov

    ("Energograd" LLC, Vasylkiv, Ukraine)

Abstract

Restoring the energy infrastructure damaged due to military aggression requires consistent political leadership, effective planning, financial resources, and human capital. The purpose of the article is to analyze the current state of human capital formation and justify the directions of its increase. The issue of human capital formation is presented in the article through the prism of the need for the post-war recovery of Ukraine's energy industry on an innovative basis. Within the framework of the economic mechanism of human capital formation for the needs of the energy transition, a critical component is the system of education and science. The authors assessed the "Human capital and research" factor for post-war recovery based on an input-output analysis of the components of the Global Innovation Index for Ukraine. The study showed a decrease in the contribution of the "Human capital and research" factor to the development of the innovative sphere of Ukraine during 2021-2023. The decomposition of the "Human capital and research" factor allowed us to conclude its further weakening by the following components: the total volume of education funding in % of GDP; the average performance of students according to the PISA assessment; coverage of the population by higher education; expenditure on research and development in % of GDP; the success of Ukrainian universities, measured regarding the success of the top 3 universities in the world according to the version of the QS World University Rankings. Based on the results of the analysis, steps aimed at strengthening individual components of human capital are proposed: diversification of non-state participation in both financing and provision of education, in particular through state stimulation of training at the workplace; support of employment with intensive use of knowledge; determination of priority areas of specialist training. State instruments for the implementation of these steps are: the provision of direct budget support in the form of grants and innovative transfers; the provision of state guarantees for enterprise loans obtained for the implementation of innovation and investment projects; the provision of state support for the export of carbon-free energy products; reduction of the corporate income tax base by the volume of innovation costs and personnel training costs.

Suggested Citation

  • Nina Petrukha & Oleh Nazukov, 2024. "Human Capital in the Post-War Recovery of the Energy Industry," Oblik i finansi, Institute of Accounting and Finance, issue 2, pages 140-149, June.
    • Handle: RePEc:iaf:journl:y:2024:i:2:p:140-149
    DOI: 10.33146/2307-9878-2024-2(104)-140-149
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    human capital; economic mechanism of human capital formation; state measures to strengthen the human capital; energy transition; education; input-output analysis;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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