BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

SITE SECTIONS

Human Capital as a Factor in Ensuring Innovative Development
Malуarets L. M., Lebediev S. S.

Malуarets, Lyudmyla M., and Lebediev, Stepan S. (2024) “Human Capital as a Factor in Ensuring Innovative Development.” Business Inform 11:117–124.
https://doi.org/10.32983/2222-4459-2024-11-117-124

Section: Education and Science

Article is written in English
Downloads/views: 0

Download article (pdf) -

UDC 330.342

Abstract:
The article compares both static and dynamic theories of economic growth, highlights the basic provisions of the theory of endogenous growth and shows the decisive role of innovation as a trigger for technological shifts that subsequently lead to economic and social changes. Particular attention is paid to the study of the influence of human capital on the creation of conditions for the emergence of innovations with their subsequent implementation in technological processes. The leading factor determining the very possibility of innovative development is the sufficient quality of human potential at the level of an individual, at the level of staff of the enterprise, and at the level of the country in general. Therefore, ensuring sustainable economic growth is directly related to the issue of providing quality education, the level of which should meet modern needs. In turn, this requires the use of innovative learning technologies in the educational process, which would contribute to the development of not only Hard Skills, but also Soft Skills. It is the analysis of such educational technologies that is the key issue of the presented article. The study was carried out within the framework of teaching mathematical disciplines to applicants for higher education in the field of economics and management. The characteristics of the methods that contribute to the development of Soft Skills of the general direction are provided, also the presentation of the authors’ own methodology, based on the conception of Design Thinking is presented. According to this methodology, the development of skills in the use of mathematical apparatus was carried out in the process of teamwork on the project of building a mathematical model of a real economic process or phenomenon (from the collection and analysis of statistical data up to forecasting with use of the obtained model). All stages of application of this methodology and the objectives facing the team at each of the stages are described in detail. The effectiveness of the development of Soft Skills was evaluated by the acquired level of Hard Skills in the application of mathematical methods in the study of economic processes and phenomena.

Keywords: theory of endogenous growth, knowledge economy, innovations, human potential, Soft Skills, Hard Skills, Design Thinking.

Bibl.: 29.

Malуarets Lyudmyla M. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Economic and Mathematical Modeling, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]
Lebediev Stepan S. – Senior Lecturer, Department of Economic and Mathematical Modeling, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]

List of references in article

Fine, V. “Endogenous growth theory: a critical assessment“. Cambridge Journal of Economics. 2000. https://www.jstor.org/stable/23600721
Onyimadu, C. O. “An overview of endogenous growth models: Theory and critique“. International Journal of Physical and Social Sciences, vol. 5, no. 3: 498-514. DOI: http://dx.doi.org/10.2139/ssrn.2685545
Chandra, R. Endogenous Growth in Historical Perspective: From Adam Smith to Paul Romer. Palgrave Macmillan, 2022. DOI: https://doi.org/10.1007/978-3-030-83761-7
Romer, P. M. “Endogenous technological change“. Journal of Political Economy. 1990. http://www.jstor.org/stable/2937632
Lukianenko, D. H. et al. Hlobalna ekonomika XXI stolittia: liudskyi vymir [The Global Economy of the 21st Century: The Human Dimension]. Kyiv: KNEU, 2008.
Liening, A. “Growth Theory and Endogenous Human Capital Development: A Contribution to the Theory of Complex Systems“. Theoretical Economics Letters, vol. 3 (2013): 96-104. DOI: 10.4236/tel.2013.32016
Cinnirella, F., and Streb, J. “The role of human capital and innovation in economic development: evidence from post-Malthusian Prussia“. Journal of Economic Growth, vol. 22 (2017): 193-227. DOI: https://doi.org/10.1007/s10887-017-9141-3
Gruzina, Y., Firsova, I., and Strielkowski, W. “Dynamics of human capital development in economic development cycles“. Economies,art. 67, vol. 9, no. 2 (2021). DOI: https://doi.org/10.3390/economies9020067
Honchar, M. et al. “State regulation of investments in innovative development of industry to strengthen financial security in the context of Industry 4.0“. Financial and Credit Activities: Problems of Theory and Practice, no. 1 (2024): 397-391. DOI: https://doi.org/10.55643/fcaptp.1.54.2024.4273
Andersson, F., and Konrad, K. A. “Human capital investment and globalization in extortionary states“. Journal of Public Economics, vol. 87, no. 7-8 (2003): 1539-1555. DOI: https://doi.org/10.1016/S0047-2727(01)00201-8
“Reimagining Human Capital in the Fourth Industrial Revolution“. International Labour Organization. https://www.ilo.org/meetings-and-events/reimagining-human-capital-fourth-industrial-revolution
Altiner, A., and Toktas, Y. “Relationship between Human Capital and Economic Growth: An Application to Developing Countries“. Eurasian Journal of Economics and Finance, vol. 5, no. 3 (2017): 87-98. DOI: 10.15604/ejef.2017.05.03.007
Tsymbal, L. I. “Liudskyi potentsial yak osnova rozvytku ekonomiky znan“ [Human Capital as Foundation Development Knowledge Economy]. Problemy i perspektyvy ekonomiky ta upravlinnia. 2021. http://ppeu.stu.cn.ua/article/view/97535
Abdulla, K. “New evidence on the role of human capital in economic development“. Applied Economics, vol. 55, no. 10 (2022): 1062-1073. DOI: https://doi.org/10.1080/00036846.2022.2095348
Guo, Q. W., Lv, B. Y., and Zhang, D. Y. “Fiscal expenditure structure and economic growth“. Economic Theory and Economic Management, vol. 11 (2003): 5-12.
Su, Y. “Nonlinear Effect of Human Capital on Economic Growth“. American Journal of Theoretical and Applied Business, vol. 7, no. 4 (2021): 137-145. DOI: https://doi.org/10.11648/j.ajtab.20210704.19
Chou, Y. K. “The Australian Growth Experience, 1960-2000: Human Capital, R&D or Steady-State Growth?“ The Australian Economic Review, vol. 36, no. 4 (2003): 397-414. DOI: https://doi.org/10.1111/j.1467-8462.2003.00297.x
Sarwar, A. et al. “Financial development, human capital and its impact on economic growth of emerging countries“. Asian Journal of Economics and Banking, vol. 5, no. 1 (2021): 86-100. DOI: https://doi.org/10.1108/AJEB-06-2020-0015
Okoye, K. et al. “Impact of global government investment on education and research development: A comparative analysis and demystifying the science, technology, innovation, and education conundrum“. Global Transitions, vol. 4 (2022): 11-27. DOI: https://doi.org/10.1016/j.glt.2022.10.001
Leoni, S. “A Historical Review of the Role of Education: From Human Capital to Human Capabilities“. Review of Political Economy (2023): 1-18. DOI: https://doi.org/10.1080/09538259.2023.2245233
“Tsili staloho rozvytku: Ukraina. Natsionalna dopovid“ [Goals of Sustainable Development: Ukraine. National Report]. https://www.kmu.gov.ua/storage/app/sites/1/natsionalna-dopovid-csr-Ukrainy.pdf
Guliyeva, A. et al. “Lifelong education as a challenge of digital era“. Turkish Journal of Computer and Mathematics Education, vol. 12, no. 6 (2021): 1282-1289. DOI: https://doi.org/10.17762/turcomat.v12i6.2468
Cvetanovic, D., Despotovic, D., and Cvetanovic, S. “Education and skills as components of human capital“. Knowledge - International Journal. 2018. https://journals.indexcopernicus.com/search/article?articleId=2301808
“Rozvytok Soft Skills. Robocha prohrama navchalnoi dystsypliny dlia zdobuvachiv vsikh spetsialnostei pershoho (bakalavrskoho) rivnia“ [Development of Soft Skills. The Working Program of the Academic Discipline for Applicants of all Specialties of the First (Bachelor) Level]. Kharkiv : KhNEU im. S. Kuznetsia, 2023. http://repository.hneu.edu.ua/handle/123456789/31567
“What are the most effective problem-solving skills for data analysis?“ https://www.linkedin.com/advice/3/what-most-effective-problem-solving-skills-data-analysis-oumvf
Lebedev, S. S. “Digital transformation of society: business management by human potential development“. In Transformation of the Economy, Finance and Management in a Pandemic: The Development of Digital Technologies, 225-241. Poland: Publishing House “Baltija Publishing”. DOI: https://doi.org/10.30525/978-9934-26-108-4-15
Lebedeva, I., Norik, L., and Lebedev, S. “Development of human potential: Design thinking as a way of improving professional competencies of economists“. Development Management, vol. 20, no. 1 (2022): 43-52. DOI: 10.57111/devt.20(1).2022.43-52
Chasanidou, D., Gasparini, A. A., and Lee, E. “Design Thinking Methods and Tools for Innovation“. In Design, User Experience, and Usability: Design Discourse. Lecture Notes in Computer Science (LNISA), 12-23. 2015. DOI: https://doi.org/10.1007/978-3-319-20886-2_2
Lebedeva, I., Norik, L., and Lebedev, S. “Digital resources as a way to increase the motivation of economic specialties students in studies of mathematics“. Educational Challenges, vol. 27, no. 2 (2022): 105-121. DOI: https://doi.org/10.34142/2709-7986.2022.27.2.08

FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

INFORMATION

The Plan of Scientific Conferences

OUR PARTNERS

Journal «The Problems of Economy»

The site and its metadata are licensed under CC BY-SA.

Write to webmaster