Exploring the Role of Socio-Cultural Factors on the Development of Human Capital in Multi-Ethnic Regions

Maksim Vlasov, Sergey N. Polbitsyn, Michael Olumekor () and Hossam Haddad
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Maksim Vlasov: Graduate School of Economics and Management, Ural Federal University, 620014 Yekaterinburg, Russia
Sergey N. Polbitsyn: Graduate School of Economics and Management, Ural Federal University, 620014 Yekaterinburg, Russia
Michael Olumekor: Graduate School of Economics and Management, Ural Federal University, 620014 Yekaterinburg, Russia
Hossam Haddad: Accounting Department, Business Faculty, Zarqa University, Zarqa 13133, Jordan

Sustainability, 2023, vol. 15, issue 21, 1-14

Abstract: Human capital is among the most important factors for sustainable economic growth. However, there remains some debate on the factors promoting or inhibiting its development. This research attempts to put socio-cultural factors at the front of this debate. Using econometric models, we exploratively test the influence of a raft of social and cultural variables on human capital development in multi-ethnic regions of Russia. We found that factors such as marriage, divorce, life expectancy, accessibility to education and healthcare, and attitude towards tourism all influence human capital to varying degrees. Domestic tourism, including museum and theatre visits were particularly impactful. We argue that cultural knowledge and exchange can promote socio-cultural harmony in multi-ethnic regions which can contribute to the region’s human capital development. By exploring the impact of socio-cultural factors, we hope to lead towards a holistic understanding of sustainable human capital development.

Keywords: socio-cultural factors; human capital; HDI (human development index); regional economy; multi-ethnic regions; institutions; economic development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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