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Investments in fixed assets and human capital: Two interconnected drivers of socioeconomic growth

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  • A. G. Aganbegyan

    (Russian Presidential Academy of National Economy and Public Administration)

Abstract

This paper highlights the great importance of increasing the share of the knowledge economy in the GDP, which is currently 13% in Russia, compared to 30% in Western Europe and the United States. The accelerated growth in the fixed asset and investment in the knowledge economy at levels of 20–25% and 20%, respectively, by 2020 have been justified. Attention is drawn to the inadequately low, declining level of investment in healthcare in Russia, the GDP share of which is twice as low as in 25 developed countries and 1.5 times lower than in 30 developing countries, which is reflected in the increased mortality rate. The WHO data on the average life expectancy of men has been analyzed; it amounts to only 58.7 years, which is below the age of retirement in Russia. In developed countries, the average life expectancy of men is 13–14 years higher. It has been concluded that, in order to tackle the long-term challenges in human capital, it is necessary to boost labor productivity and increase wages by reducing the groundless differentiation of the population’s income to the level of Western European countries.

Suggested Citation

  • A. G. Aganbegyan, 2017. "Investments in fixed assets and human capital: Two interconnected drivers of socioeconomic growth," Studies on Russian Economic Development, Springer, vol. 28(4), pages 361-363, July.
    • Handle: RePEc:spr:sorede:v:28:y:2017:i:4:d:10.1134_s1075700717040025
    DOI: 10.1134/S1075700717040025
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    Cited by:

    1. Changfei Nie & Wen Luo & Yuan Feng & Zhi Chen, 2023. "The Impact of Economic Growth Target Constraints on Environmental Pollution: Evidence from China," IJERPH, MDPI, vol. 20(4), pages 1-23, February.
    2. Ekaterina V. Orlova, 2021. "Design of Personal Trajectories for Employees’ Professional Development in the Knowledge Society under Industry 5.0," Social Sciences, MDPI, vol. 10(11), pages 1-29, November.
    3. N. N. Mikheeva & V. G. Basareva, 2021. "Regional Specifics of Poverty in Russia," Studies on Russian Economic Development, Springer, vol. 32(5), pages 499-507, September.
    4. E. S. Dashut, 2021. "Information, Technological Infrastructure Organizations and Support of Production: Prospective Institute for Development," Studies on Russian Economic Development, Springer, vol. 32(3), pages 274-279, May.
    5. Si Xie & Tianshu Li & Ke Cao, 2023. "Analysis of the Impact of Carbon Emission Control on Urban Economic Indicators based on the Concept of Green Economy under Sustainable Development," Sustainability, MDPI, vol. 15(13), pages 1-22, June.
    6. E.V. Orlova, 2021. "Assessment of the Human Capital of an Enterprise and its Management in the Context of the Digital Transformation of the Economy," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 20(4), pages 666-700.
    7. N. I. Sasaev, 2021. "Strategic Diagnostics of the Industry as a Strategizing Object," Administrative Consulting, Russian Presidential Academy of National Economy and Public Administration. North-West Institute of Management., issue 9.
    8. N. I. Komkov, 2023. "Transformation and Preserving the Development Potential of the Russian Economy," Studies on Russian Economic Development, Springer, vol. 34(3), pages 399-405, June.

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