National human capital as factor of development of modern knowledge economy

Abstract

Purpose: Article is devoted to features and conditions of development of national human capital in the postindustrial era of world economic development, its influence on innovation processes and economic growth. Discussion: Since the true value of human capital is difficult for statistical evaluation, in order to obtain more relevant and exact result when considering concrete macroeconomic problems, we make the case for analysis of investments into the sphere of knowledge economy as the particular economic sphere, as the sphere of main intellectual services that determine the quality of human capital. Results: The research shows that in the 21st century science, education and professional training, as well as «investments in people» which form the national «human capital» (provided it is successfully applied) play a decisive role in providing competitive advantages over other countries conditioning high dynamism of socio-economic progress of knowledge-based society and high rate of its economic growth.