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Evaluation of the effectiveness of investments in human capital in modern conditions
[Оценка Эффективности Инвестиций В Человеческий Капитал В Современных Условиях]

Author

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  • Melnikov, Roman (Мельников, Роман)

    (The Russian Presidential Academy of National Economy and Public Administration)

  • Margolin, Andrey (Марголин, Андрей)

    (The Russian Presidential Academy of National Economy and Public Administration)

  • Ustenko, Viktoria (Устенко, Виктория)

    (The Russian Presidential Academy of National Economy and Public Administration)

  • Ginoyan, Argishti (Гиноян, Аргишти)

    (The Russian Presidential Academy of National Economy and Public Administration)

  • Teslenko, Valentina (Тесленко, Валентина)

    (The Russian Presidential Academy of National Economy and Public Administration)

  • Turanova, Ekaterina (Туранова, Екатерина)

    (The Russian Presidential Academy of National Economy and Public Administration)

Abstract

The study measures the efficiency of human capital investment at the individual, public, and social levels for different levels of educational attainment and specialist fields in the present-day Russia. The efficiency and risk evaluation of investment in the higher education (including postgraduate studies) and vocational education and training (VET) was based on the regression analysis of the data provided by the Russian Longitudinal Monitoring Survey as well as on financial models, which allowed us to compare costs, benefits, and risks of human capital investment for different stakeholders. To evaluate the impact of human capital on economic growth at the macroeconomic level, we conducted regression analysis of the panel data provided by Rosstat, which was used to assess the effect of human capital development on the growth dynamics of the Russian regions. The present research enabled us to formulate policy recommendations aimed at improving the mechanism of investment in human capital at the level of VET and higher education, with a specific emphasis on the training of academic and teaching staff.

Suggested Citation

  • Melnikov, Roman (Мельников, Роман) & Margolin, Andrey (Марголин, Андрей) & Ustenko, Viktoria (Устенко, Виктория) & Ginoyan, Argishti (Гиноян, Аргишти) & Teslenko, Valentina (Тесленко, Валентина) & Tur, 2019. "Evaluation of the effectiveness of investments in human capital in modern conditions [Оценка Эффективности Инвестиций В Человеческий Капитал В Современных Условиях]," Working Papers 041912, Russian Presidential Academy of National Economy and Public Administration.
    • Handle: RePEc:rnp:wpaper:041912
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