Factors of the formation and development of human capital in an innovation-based economy

TLDR: In this paper, the authors consider the principal factors influencing the formation and development of human capital in an innovation-based economy and determine the most significant factors by means of correlation and regression analysis given an estimate with an account of the innovation-driven growth of economy.

Abstract: summary This article considers the principal factors influencing the formation and development of human capital in an innovation-based economy The most significant factors are determined by means of correlation and regression analysis Given an estimate with an account of the innovation-driven growth of economy Keywords: human capital, education, factors, innovation-based economy, specialists, management, investment Competition for human capital (HC), being the basis of the innovation-driven growth of economy of any state, is crucial in the modern world Innovation-driven growth requires training of new-generation personnel at various levels due to large-scale assimilation of the latest technologies: skilled labour for knowledge-intensive and high-quality productions; multidisciplinary specialists capable of combining technical specialisation with the functions of managers, analysts, consultants, and scientific personnel Innovative orientation of the economy is associated with investment projects, and in those conditions the need arises for economists specialising in problems of the measurement of innovative investment processes The circumstances indicated are of paramount importance when making grounded decisions in strategic planning within the scope of an individual enterprise as well as on the national scale 1