INTEGRATED APPROACH TO HUMAN CAPITAL ASSESSMENT IN THE CONDITIONS OF INNOVATIVE DEVELOPMENT

Abstract

The article is devoted to clarifying the features of existing index methods for assessing human capital in world economic science and developing an integrated approach to its assessment at the national level on this basis. In the system of modern global indices, the object of measurement of which is human capital, the methodological features of the human capital index of the World Economic Forum and the World Bank are analyzed. The methodological features of these indices are compared and it is emphasized that despite the common object of analysis, these indices differ significantly in calculation methodology, purpose and analytical capabilities. The human capital index of the World Economic Forum shows how effectively a country uses existing human capital today, and the World Bank index demonstrates what level of productivity of national human capital will be achieved tomorrow. The features of global indices, in which human capital is one of the structural elements of their construction methodology, are also analyzed, in particular the indices of global competitiveness, inclusive development, human development, social progress, innovation, readiness for future production and sustainable development. An integrated approach to the formation of a composite human capital index is proposed, which combines the methodological elements of the World Bank human capital index, the Human Development Index and the Global Innovation Index. The integrated human capital index includes three key components: health, education, and research and development. The health subindex determines the potential duration and intensity of human capital use, the education subindex characterizes the intellectual readiness of the population to participate in innovation processes, and the science and research and development subindex assesses the ability of human capital to generate new knowledge and innovations. An empirical approbation of the index for countries of the world and Ukraine was carried out, as well as its correlation analysis with indicators of economic and innovative development. It is proved that the integration of the innovation component significantly increases the analytical and predictive capabilities of the human capital index.