ІННОВАЦІЙНО-ІНВЕСТИЦІЙНА ПОЛІТИКА ЯК ІНСТРУМЕНТ ФОРСУВАННЯ РОЗВИТКУ ЛЮДСЬКОГО КАПІТАЛУ

Purpose. The article is devoted to defining and revealing the role of human capital in shaping competitive policy and strengthening Ukraine's socio-economic security. The subject of the study is the scientific and methodological foundations for the development and assessment of human capital as a key factor in the competitiveness of the state and its socio-economic security. The object of the study is the processes of formation, use, and reproduction of human capital in the context of globalization transformations, military challenges, and post-war reconstruction of Ukraine. To achieve the set goal, the following theoretical methods were used: analysis of source base, comparison, systematization, generalization, and a structural-functional approach. The category of human capital and its place in shaping competitive policy and ensuring the socio-economic security of the state have been defined. The main components of human capital (educational potential, health and demographic characteristics, innovative activity, social mobility, and flexibility) that determine the level of competitiveness of a nation have been identified. The key mechanisms of human capital's impact on competitive policy (innovation, entrepreneurship development, regional development, investment attraction, social stability) are presented. The economic, social, and security aspects of the impact of human capital on the socio-economic security of Ukraine are considered. It is shown that a highly skilled workforce reduces dependence on technology imports, ensures social cohesion, and contributes to the formation of effective institutions. It is established that the scientific and methodological foundations for assessing human capital in the context of security and competitiveness include a set of theoretical and practical tools that allow identifying, assessing, and predicting risks associated with its development. In the course of the study, the basic principles of human capital analysis were identified and systematized: systematicity and comprehensiveness, risk monitoring and forecasting, integration into the state's competitive policy, and the use of quantitative and qualitative indicators. The importance of a systematic approach to the development of human capital as a strategic resource for Ukraine's socio-economic security is substantiated. It is determined that the methodological principles include the development of a system of indicators for assessing its development, regular monitoring, risk analysis, and the formation of effective management tools. Key components of methodological support for human capital development are proposed: monitoring, assessment, and risk management in the areas of education, employment, innovation, and social protection. The conclusions of the study are that human capital development is a key factor in the competitiveness and socio-economic security of a country. Human capital is not only an economic resource, but also a strategic basis for building an innovative economy, increasing social stability, and strengthening national security. The socio-economic security of a state is a dynamic state of stable functioning and development of society and the economy in the face of external and internal challenges, which includes protecting the country's economic interests, ensuring financial stability, managing risks, forming competitive policies, and effectively utilizing labor resources. An understanding of the relevant scientific and methodological foundations can be based on the main approaches to the study of human capital, its key components, and mechanisms of influence on competitive policy and socio-economic security. The article also defines the basic principles of human capital assessment and development – systematicity, comprehensiveness, risk monitoring and forecasting, integration into public policy, and the use of quantitative and qualitative indicators, which makes it possible to develop effective strategies for its reproduction and use.

The article comprehensively explores the theoretical, methodological, and applied foundations of using public-private partnerships as an instrument for developing human capital at the regional level. It substantiates the relevance of implementing partnership models of cooperation between the state and the private sector, particularly in ensuring the socio-economic stability of territories in post-war Ukraine. The study characterizes the essence of public-private partnership as a form of interaction based on the distribution of risks, resources, and responsibilities to implement socially significant projects. Key models and forms of public-private collaboration used in global and national practice are analyzed, and the institutional and legal prerequisites for its functioning in Ukraine are defined. It is established that public-private partnership mechanisms create opportunities for implementing innovative educational, healthcare, and professionally oriented projects focused on improving the quality of human capital. The article highlights the role of human capital as a crucial factor in regional development, presenting an analysis of Human Development Index dynamics in Ukraine from 1990 to 2022. The full-scale war significantly worsened human development indicators due to population loss, forced displacement, destruction of educational and healthcare infrastructure, reduced life expectancy, and declining education levels. These consequences emphasize the need to expand human development policy instruments by emphasizing practical intersectoral cooperation. The study systematizes the key barriers to implementing public-private partnerships in Ukrainian regions, including managerial, regulatory, and financial obstacles. The challenges comprise the lack of an effective state coordinator, insufficiently qualified personnel in local authorities, regulatory instability, and limited access to financing. Proposed solutions include simplifying the legal framework, providing state guarantees, enhancing procedure transparency, developing institutional capacity, and supporting private investors. Special attention is given to analyzing tools and practices that stimulate business partici-pation in human capital development, such as improving contractual arrangements, introducing financial incentives, utilizing international technical assis-tance and grant programs, and ensuring a stable and predictable investment environment. The study concludes that the effective implementation of public-private partnerships requires an integrated approach and coordination among government, businesses, and local communities to achieve long-term sustainable development goals. Keywords: public-private partnership, human capital, regional development, social infrastructure, institutional capacity.

This study examined the influence of FDI on human capital development in emerging markets. It also explored the role of financial development in FDI-led human capital development in emerging markets. The study used the dynamic generalized methods of moments (GMM) and fully modified ordinary least squares (FMOLS). It also utilized panel data ranging from 2004 to 2019. Models 2 and 3 of FMOLS (fully modified ordinary least squares) indicate a significant enhancing impact of FDI on the development of human capital, while model 1 of FMOLS and all three models of the dynamic GMM (generalized methods of moments) show an insignificant influence of FDI on human capital. Models 1, 2, and 3 under the dynamic GMM and models 1 and 3 under FMOLS demonstrate a significant enhancing influence of the complementarity variable on human capital development. This implies that financial development improved FDI’s chances of contributing to the significant development of human capital. The study indicates that FDI is an important pillar in improving human capital development in emerging markets. Policies aimed at improving FDI inflows and deepening the financial sector should be implemented by emerging markets to significantly develop the human capital base of their economies.

The advent of technologies has stimulated the economic growth of western countries, however, some Asian and African countries are among the Lower Middle Income Countries due to lack of technology adoption and digitally skilled human capital. The use of technologies produces digital competent human capital stock that accelerates economic growth. The prime goal of this article is to explore dynamics of technology adoption, technology innovation, human capital and skill development for Lower Middle Income Countries region over the period 2000-2016 by Generalised Method of Moments and cross sectional dependence. New technology adoption, technology innovation and human capital & skill development indices are formulated. The empirical findings indicate that human capital development & skill and investment have positive linkage with Lower Middle Income Countries economic growth while technology adoption and innovation have different linkage across the Lower Middle Income Countries regions. The panel error correction method was applied to estimate short run dynamics and convergence rate. The fully modified ordinary least square was applied to authenticate whether the long run estimates are consistent and valid for policy implications. The findings propose policy implications for advance technology adoption and innovation with the focus on human capital development & skill and investment in Lower Middle Income Countries region.

This study examines the determinants of human capital development in Nigeria, with a focus on the Human Development Index (HDI) as the dependent variable and government expenditure on education (GEX), government expenditure on health (GHE), and training and skill development (TKD) as the independent variables. The research uses an Error Correction Model (ECM) to analyse data from 1981 to 2023. The results reveal that government expenditure on education, government expenditure on health, and training and skill development all significantly influence human capital development in Nigeria. Specifically, increases in educational spending and health care investment show positive and statistically significant effects on human development, supporting the view that these sectors are essential for improving the quality of life and productivity. Training and skill development also exhibit a significant positive relationship with HDI, confirming the importance of skill acquisition in fostering a productive workforce. The ECM results further indicate a long-term equilibrium relationship among the variables, with an error correction term, suggesting that about 14.7% of the disequilibrium in human capital development is corrected annually. These findings highlight the critical role of government investment in education, health, and skill development for enhancing human capital in Nigeria.

Human Capital development occupies a salient position in determining organization’s value creation and profitability. Organization faces the challenge of harnessing employee skill set for organizational growth and development. This paper intends to examine the influence of human capital development on employee productivity in Edo State Civil Service Commission. The method utilized in this study was the qualitative research. The data for the investigation adopted the cross-sectional survey with descriptive approach by interviewing five management staff of the Edo State Civil Service Commission. More so, secondary sources of data collection and the human capital theory were utilized as the framework of analysis. The research has shown that there is a correlation between human capital development and productivity. It was discovered that planned human capital development policies through trainings and workshops are imperative in achieving high level of morale and organizational stability. It therefore concluded that human capital development is a pre-requisite for organizational growth and development as projected by the human capital theory. The findings of the study further revealed the challenge of inadequate funding in fostering human capital development in the Commission, as the release of the fund does not match with the planned training schedule. Based on the challenges raised in the paper, this study recommends the continuous explicit and identification of training needs and well-structured training programme for the improvement of employee skill capacity.

Do human capital development and globalization matter for productivity growth? New Evidence from Africa

Recent discussions have stressed the need for improved human capital development (HCD) in Zimbabwe and other developing nations on the grounds that, a nation's human capital is vital for future technological breakthroughs, international competitiveness and sustainable economic development towards the improvement in service delivery. This research study explains the importance of human capital, programme and project development strategies towards improving service delivery in the country. The article adopts a desktop study in formulating the relevant meaning of HCD, project and programme development towards effective service delivery in the country. The key findings and emerging issues indicate that investing in HCD is a key factor in developing projects and programmes in the spirit of industrialisation towards improving service delivery in Zimbabwe as it promotes entrepreneurship, job creation, wealth creation, youth empowerment, peaceful society and economic development.

Human capital has been recognized globally as one of the major factors that is responsible for the wealth of nations and human resource constitutes the ultimate basis of Small and Medium scale Enterprises development and wealth of Nations. Most developed Nations are rich because of the emphasis they laid on human capital development. This study investigated the impact of human capital development on the performance of small and medium-scale enterprise (SMEs) in Nigeria over the period from 2003 to 2023. The study adopted an “ex-post facto” research design, utilizing secondary data sourced from the Central Bank of Nigeria Statistical Bulletin, Bureau of Statistics, and SMEDAN reports. Autoregressive Distributed Lag (ARDL) methodology was employed for data analysis, allowing for the examination of short and long-term effects of human capital variables such as formal education, training, and participation in seminars, conferences, and workshops on SME performance indicators. Trend analysis, correlation matrix, stationarity test, least square regression estimation analysis were carried out on observations to obtain results. The findings revealed a consistently positive and significant relationship between human capital development and SMEs performance across the study period. Specifically, higher levels of formal education, training initiatives, and participation in knowledge-sharing events are associated with enhanced business outcomes in terms of profitability, productivity, and market competitiveness for Nigerian SMEs. Least Square Multiple Regression showed that Adjusted R2- 08859 indicating that approximately 88.59% of the variance in SMEsP is explained by the model, suggesting a high level of explanatory power. F. statistics showed 39.80876, Prob (F-statistics) was 0.0000 indicated that the overall model is highly significant and Durbin-Watson stat was 206373.3 suggesting that there is no significant autocorrelation in the residuals of the model, the constant term (C) has a coefficient of 2.0040 and is significant with a p-value of 0.0002,indicating that it has a substantial positive impact on SMEsP when all predictors are zero. ARDL Results indicated short and long run impact of human capital development on SMEs performance in Nigeria. Also, trend analysis found a positive trend in human capital development. Invariably, all the null hypotheses set were rejected and the alternative hypotheses were accepted. This study concluded that investments in human capital development play a crucial role in bolstering SME performance in Nigeria. The results underscore the importance of continuous skill enhancement and knowledge acquisition among SME operators, suggesting that such initiatives contribute not only to immediate operational improvements but also to sustain growth over time. Based on the findings, the study recommended that policymakers and business support agencies in Nigeria prioritize initiatives that promote access to formal education, vocational training programs, and participation in professional development activities like seminars and exhibitions. Facilitating easier access to these resources and enhancing their quality can empower SMEs to navigate challenges, capitalize on emerging opportunities, and contribute more robustly to Nigeria's economic development goals.

Human capital development is crucial in ensuring organizational excellence. Excellent organizations usually focus on the quality of their human capital. Excellent human capital management can be developed by learning, training, work experiences, human resource management and quality of service offered. Today, to ensure success of human capital, there are many challenges faced by an organization. The aim of this study is to explore human capital development in Islamic Administration Institutes in Malaysia (IAM). This study is important to identify challenges involved in human capital development program in IAM. The Malaysian Government is implementing public administration reformation agenda in the IAM which is an essential component of public administration involved in the renewal process. One of the reformations that can be made possible is by executing an effective human capital program. This paper is a qualitative study in which content analysis is used to analyze the content of previous literature, documents and reports related to topics being studied. The results show that human capital development in the IAM is actively implemented. IAM also faced a number of challenges in implementing the human capital development program. Preliminary findings from Department of Islamic Development Malaysia (JAKIM) case studies found a number of challenges in developing the human capital. Some of the factors are financial, individual attitudes, lack of support on new ideas and environmental.

Purpose: The development of the modern economy is impossible without reliance on human capital, the quality of which determines the opportunities and prospects for economic growth. In this regard, the development and testing of effective methods for assessing and forecasting the development of human capital in the regions becomes an urgent task. The objectives of the work are to develop and test a methodology for assessing the level of development of regional human capital in order to formulate on this basis recommendations for improving regional human capital development policies.Design/methodology/approach: The assessment of the level of human capital development is rather difficult because it is necessary to assess the qualitative condition of the subject of the study using quantitative indicators, which are contained in open sources. Obviously, it is important to consider separately the level of human capital development and the state of the infrastructure of social industries, which are responsible for creating conditions and opportunities for the development of human capital.Findings: The human capital of the region can be estimated by the level of health, education, culture and innovative activity of the population. Testing the author’s methodology for assessing the level of human capital development on the materials of the federal districts of the Russian Federation and the North Caucasus Federal District allows us to identify a risk zone - regions with pronounced negative trends. In the medium term, this can lead to an increase in the gap between the regions of Russia in terms of human capital development and a deterioration in the conditions for economic growth. To avoid this, regional human capital policies need to be adjusted in a timely manner.Originality/value: The author’s methodology for assessing the level of development of regional human capital and forecasting its development in the medium term has been developed. The methodology was tested on the statistical data of federal districts and regions of the North Caucasus Federal District.KeywordsHuman capitalRegional policyRegional economyJEL CodeR11

Objective Comprehensive overview of the most relevant topics, trends, and scientific products in the field of the relationship between education and human development. Methodology Bibliometric (VOSviewer v.1.6.10) analysis were used to describe thematic, temporal patterns, clustering of concepts and research networks (geographical and institutional aspects). Findings The study provides a comprehensive overview of the state of research on education’s role in human capital development, offering summarized insights into global trends, thematic shifts, and key contributors to the field. Value Added The article contains quantitative methodological approach to studying current topics and developing research on the impact of education on human development, which is interdisciplinary and covers a large volume of publications. The article defines research thematic and evolutionary-temporal patterns, carries out clustering of research networks according to the affiliation of scientists (geographical and institutional aspects), and identifies leaders of scientific opinion in this field. Recommendations Future research may focus on developing a list of measurable indicators suitable for evaluating the role of education in human development, and social and economic determinants to avoid cognitive biases or irrational and distorted decision making by mainstream agents.

The development of human capital is a plan which requires a priority as a foundation for a sustainable, virtuous and glorious civilization. Until today copious efforts for self-development have revolved around the physical, mental and emotional aspects. Education of the heart is apparently lacking in the human capital development process. The concept of Akinnah al-Qalb refers to the barrier that exists in developing the human heart. Hence, the exploration into this concept is essential to the development of virtuous human capital. Previous research has focused on the factors that contribute to human capital development; nonetheless, no attempt has been made to explore the aspects which hinder human capital development, with specific reference to the Quran. Hence, this paper aims to explore the Quranic verses that are correlated to the notion of Akinnah al-Qalb, their characteristics and the description of its features based on the opinions of various religious scholars. Qualitative method was virtuously engaged in this study by referring to the analyses made on Quranic verses by mufassirun that are linked to Akinnah al-Qalb concept. The findings of the present study have been able to explain the concept of Akinnah al-Qalb and describe its connection with the human heart and consequently its significance in human capital growth.

The measurement of durable goods prices: Robert J. Gordon. Chicago, IL: The University of Chicago Press, 1990. 723 pp. $85.00 ISBN 0-226-30455-8

The disparity between budget and human capital development over the years questions the performance of budget in Nigeria. Budget performance measures are expected to be positive if human capital development will improve in any nation. Therefore, the study investigated the effect of budget performance on human capital development in Nigeria. The study employed descriptive longitudinal research design and inferential statistics. Secondary data were extracted from annual budget and human development reports. The population for this study comprised all the twenty-four (24) federal Ministries in Nigeria. A sample size of 4 ministries (education, health, agriculture and rural development, science and technology) were purposively selected. Data collected were analysed using Autoregressive Distributed Lag model. The results of the short run effect of budget performance on human capital development showed that budget effectiveness (t = 4.1593, P 0.01), budget efficiency (t = 4.3163, P 0.01), inflation rate (t = -2.2254, P 0.05) all had positive and significant effect on human capital development. The long run result revealed that budget effectiveness (t = 4.6777, P 0.01), budget efficiency (t = 3.6078, p 0.05), budget discipline (t = 2.6789, P 0.05) and debt burden (t = 2.1050, p 0.1) had positive and significant effect on human capital development. The study concluded that budget performance has significant effect on human capital development.