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Exploring the Role of Socio-Cultural Factors on the Development of Human Capital in Multi-Ethnic Regions

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  • Maksim Vlasov

    (Graduate School of Economics and Management, Ural Federal University, 620014 Yekaterinburg, Russia
    Institute of Economics of the Ural Branch, Russian Academy of Sciences, 620014 Yekaterinburg, Russia)

  • Sergey N. Polbitsyn

    (Graduate School of Economics and Management, Ural Federal University, 620014 Yekaterinburg, Russia
    Institute of Economics of the Ural Branch, Russian Academy of Sciences, 620014 Yekaterinburg, Russia)

  • Michael Olumekor

    (Graduate School of Economics and Management, Ural Federal University, 620014 Yekaterinburg, Russia)

  • Hossam Haddad

    (Accounting Department, Business Faculty, Zarqa University, Zarqa 13133, Jordan)

Abstract

Human capital is among the most important factors for sustainable economic growth. However, there remains some debate on the factors promoting or inhibiting its development. This research attempts to put socio-cultural factors at the front of this debate. Using econometric models, we exploratively test the influence of a raft of social and cultural variables on human capital development in multi-ethnic regions of Russia. We found that factors such as marriage, divorce, life expectancy, accessibility to education and healthcare, and attitude towards tourism all influence human capital to varying degrees. Domestic tourism, including museum and theatre visits were particularly impactful. We argue that cultural knowledge and exchange can promote socio-cultural harmony in multi-ethnic regions which can contribute to the region’s human capital development. By exploring the impact of socio-cultural factors, we hope to lead towards a holistic understanding of sustainable human capital development.

Suggested Citation

  • Maksim Vlasov & Sergey N. Polbitsyn & Michael Olumekor & Hossam Haddad, 2023. "Exploring the Role of Socio-Cultural Factors on the Development of Human Capital in Multi-Ethnic Regions," Sustainability, MDPI, vol. 15(21), pages 1-14, October.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:21:p:15438-:d:1270601
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