Factor Model of Human Capital Accumulation in the Context of Global Challenges

Abstract

The transition to the fourth industrial revolution and the digital economy leads to a new socio-economic formation. In the new society, the place and role of human capital in the system of factors that ensure the socio-economic development of territories are being rethought. Human capital is becoming one of the key elements that ensure the sustainable development of territories and increase their global competitiveness. The increasing role of human capital creates a need to develop effective mechanisms for managing its accumulation and use, which requires systematic research of factors that affect this process. To solve this problem, the team of authors formed a factor model of the territory’s human capital accumulation in the context of global challenges and responses to them. The generated model was developed in such a way as to reflect the system of factors, as well as the nature of their influence and relationship.