Comparative Analysis of the Return on Human Capital in the European and Asian Regions of Russia
A. A. Aletdinova () and
A. V. Koritsky ()
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A. A. Aletdinova: Novosibirsk State Technical University
A. V. Koritsky: Novosibirsk State Technical University
Regional Research of Russia, 2020, vol. 10, issue 2, 213-219
Abstract Human capital, on the one hand, helps accelerate the country’s economic development and scientific and technological progress. On the other hand, the socioeconomic characteristics of regions affect the level of return on human capital. The authors hypothesize that the larger the accumulation of human capital in a region, the stronger its impact on the income level of the population. This hypothesis determined the objective of the study: to assess the relationship between the level of accumulation of human capital, fixed (physical) capital, and personal income by groups of Russian regions. A costly approach was used to assess human capital based on the replacement cost of the education fund of people employed in the country’s economy. The results confirmed the assumption that an increase in education costs in the long term is more profitable than increased investment in fixed assets. The authors concluded that the human capital accumulated in regional economies affects the increase in personal income more than physical capital.
Keywords: return on human capital; replacement cost of education fund; fixed assets; personal income (search for similar items in EconPapers)
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