Efficiency of Human Capital Investments as a Factor of Innovative Technologies Growth and Sustainable Development

Abstract

Ineffective funds and resources investment in basic elements of human capital is increasingly observed across Russia currently, which is unexceptionally relevant for all the subjects of such investments from individuals and households to the state, in general. Therefore, in the course of 2013–2020, the authors of the chapter conducted a series of studies aimed at assessing the current investments efficiency in national human capital, as well as at detecting and developing means, methods and institutional mechanisms to increase such efficiency. Statistical analysis of large data sets was used as methodology for assessing investments effectiveness; data sources included, firstly, publications of official state, regional, and departmental statistics, and secondly, massive representative surveys of various economically active population groups, heads of government bodies, and business organization, in-depth and expert interviews with individual representatives of all the respondents groups. This assessment method of investment effectiveness is completely authentic and has not previously been used in such studies. Furthermore, tackling the urgent for Russian Federation problem of investment efficiency increase in human capital will enable the state to develop and introduce transformational new technologies, scale successful investment solutions more quickly, in order to implement the sustainable development goals.