Human Capital as the Instrument of Public Administration in the Sphere of Increasing the Competitiveness of the Regional Economy: Theoretical Aspects

Abstract

This paper considers the current problem of human capital and its place in increasing the competitiveness of the regional economy. The aim of the article is to study the impact of human capital on improving the competitiveness of the regional economy. Author studies the theoretical aspects of human capital, offers a refined interpretation of the concept in the context of the considered problem. A special attention was paid to the methodology of evaluation the level of development of human capital in the region. Author on the basis of the analytical review tried to prove a direct correlation between the levels of human capital development in a number of regions of Russia with their position in the ranking of the attractiveness of competitive regional economies. It substantiates the idea that human capital is a fundamental strategic resource base of economic development of the region, the country as a whole. We believe that the level of development of human capital and the level of socio-economic sphere are directly proportional, where the first is the basis of the second - the result index. Revealed feature that a high level of human capital development is not typical for stagnating or in decline economics, in which the competitive advantages of business entities are poorly developed. This theoretical approach will be interesting for specialists in fields of territorial development and regional management, implementation of the innovations in the regional economy. The methodological basis of the study includes such tools as analysis of statistical data, analysis of the sources, comparison method, induction method, and others. This issue requires further research, because of the lack of the study.