Analysis of the Efficiency of Public Investments in Human Capital

Анотація

The relevance of the study is due to the growing role of human capital as a key resource for socio-economic development and the need to increase the efficiency of public investments in its formation in the context of structural transformations of the economy and increased external challenges. The purpose of the study is to generalize theoretical approaches to determining the essence of human capital and assessing the efficiency of public investments in its development based on the analysis of budget priorities and effective socio-economic indicators. The study used a complex of general scientific and special methods of cognition, including methods of analysis and synthesis, generalization and content analysis, structural-logical and systemic approaches, comparative and correlation analysis. The differentiated nature of the relationship between the directions of public expenditures and human development indicators is revealed: expenditures aimed at short-term economic activity demonstrate more pronounced statistical dependencies, while investments in the sphere of human capital formation are characterized by a delayed effect. The effectiveness of public investments in human capital is determined not only by their volume, but primarily by the structure, functional orientation and time parameters of influence. The feasibility of using a comprehensive approach to assessing the effectiveness of budgetary policy, which considers the long-term nature of human capital reproduction and the multidimensionality of its socio-economic effects, is substantiated.

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