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On the Possibility of Transition to an Economic Strategy Based on the Specifics of Human Capital in Russia

Author

Listed:
  • Auzan, A.

    (Lomonosov Moscow State University, Moscow, Russia)

Abstract

Negative economic dynamics, characterized by slowing down of economic development, can be caused also by deeper foundations in path-dependence problem, i.e. keeping the country on a low path of economic development, as a result of the impact of cultural factors (informal institutions) and strictly institutional factors, which are combined in different versions of the social contract. Overcoming this situation implies not only a change at the appropriate levels of institutions and culture, but also the transition to a different economic development strategy. Now mineral resources are treated as the main resource of the global competitive positioning of Russia. However, a high-quality human capital with specific socio-cultural characteristics can become this potential resource of global positioning. The shift of the focus on the new base - human capital resources - requires a different institutional environment (inclusive rather than extractive institutions) and assumes a different structure of economic activity and the sequence of modernizing reforms. The article prompted the author's understanding of prerequisites and contours of such changes.

Suggested Citation

  • Auzan, A., 2015. "On the Possibility of Transition to an Economic Strategy Based on the Specifics of Human Capital in Russia," Journal of the New Economic Association, New Economic Association, vol. 26(2), pages 243-248.
    • Handle: RePEc:nea:journl:y:2015:i:26:p:243-248
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    human capital; inclusive and extractive institutions; cultural capital;
    All these keywords.

    JEL classification:

    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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