Theoretical aspects of human capital influence on regional development

Abstract

This article is to discuss the state of scholarly research on the influence of human capital on the economic growth and the development of regions. We hereby review the relevant literature published over the past 30 years, and we integrate the various trends and factors into a preliminary and multi-dimensional framework of human capital development. Through this methodologically systematic review and framework development, we provide a more comprehensive and deeper understanding of the connection between human capital development, world technological trends and economic growth. In so doing, we consequently identify various research gaps and prescribe effective ways for future works in this research stream. Conclusively, we discuss the problem of a lack of the demand for human capital (as well as knowledge) in Russian regions that is the main reason for weak economic situation in them. Here is suggested to restructure current regional economy in order to consolidate high qualified human capital in regions and stipulate economic growth in regions.