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Distribution of financial resources by areas of investments in the human capital of the region

Author

Listed:
  • Mazelis, Lev S.

    (Vladivostok State University of Economics and Service.)

  • Krasko , Andrey A.

    (Vladivostok State University of Economics and Service.)

  • Krasova, Elena V.

    (Vladivostok State University of Economics and Service.)

Abstract

Introduction. The study has been conducted within the framework of the urgent scientific and practical task of accumulation and development of human capital of Russian regions. Under the conditions of risks and limited resources, the regional management faces the task of optimal distribution of financial resources invested in the development of human capital and improvement of the quality of life. The study aims to build and test the dynamic optimization model of financial resources distribution by areas of investment in human capital through the example of the Primorye Territory (Russian Federation). Materials and methods. The multi-period economic and mathematical model describes the influence of the volumes and structure of public and private investments on the regional human capital in the form of recurrent dependencies. The target function of the model is an integrated index of achieving the objectives for the development of human capital in the region. The model is a mathematical programming problem, the optimization variables are the shares of investment resources distributed by investment areas and years. Results. In a practical sense, the proposed model is a management tool for searching the optimal structure of investments in human capital by areas of investment and periods. Based on the annual results of modeling and numerical calculations through the example of the Primorye Territory (Russian Federation), the structure of the investments that allow advancing in the achievement of target values of strategic indicators in the field of human capital development is offered. Conclusion. In the long term, the achievement of target indicators will be facilitated by a more even structure of investments in the following areas: along with education and health care, it is advisable to increase investments in other areas, first of all, in the issues of national importance, national security, public order, and social policy.

Suggested Citation

  • Mazelis, Lev S. & Krasko , Andrey A. & Krasova, Elena V., 2021. "Distribution of financial resources by areas of investments in the human capital of the region," Economic Consultant, Roman I. Ostapenko, vol. 36(4), pages 4-16.
    • Handle: RePEc:ris:statec:0094
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    More about this item

    Keywords

    human capital of the region; investments in human capital; financial resources; socially responsible investments; optimization of investments structure; multiperiod economic and mathematical model; development targets;
    All these keywords.

    JEL classification:

    • D04 - Microeconomics - - General - - - Microeconomic Policy: Formulation; Implementation; Evaluation
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

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