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Human Capital as a Key Factor of Economic Growth in Crisis

Author

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  • A.V. Sultanova
  • O.S. Chechina

Abstract

The purpose of the article is to determine the role of human capital in overcoming of crisis phenomena in economy by the example of modern Russia. During the research, the authors use such scientific methods as modeling of development of socio-economic systems, factor analysis, analysis of causal connections, systemic and problem analysis, correlation analysis, synthesis, and graphic representation of information. The authors analyze dynamics and connection between Russian economy and innovational activity of Russian enterprises before, during, and after the recent financial crisis and develop an anti-crisis strategy of development of human capital, depending on the phase of economic cycle. As a result, the authors come to the conclusion that overcoming of crisis phenomena in economy is done by innovational activity of enterprises, which is ensured by their human capital.

Suggested Citation

  • A.V. Sultanova & O.S. Chechina, 2016. "Human Capital as a Key Factor of Economic Growth in Crisis," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 71-78.
    • Handle: RePEc:ers:journl:v:xix:y:2016:i:2:p:71-78
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    References listed on IDEAS

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    3. Jaewon Lim & Changkeun Lee & Euijune Kim, 2015. "Contributions of human capital investment policy to regional economic growth: an interregional CGE model approach," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 55(2), pages 269-287, December.
    4. Luca Benzon & Olena Chyruk, 2015. "The Value and Risk of Human Capital," Annual Review of Financial Economics, Annual Reviews, vol. 7(1), pages 179-200, December.
    5. Urbano, David & Aparicio, Sebastian, 2016. "Entrepreneurship capital types and economic growth: International evidence," Technological Forecasting and Social Change, Elsevier, vol. 102(C), pages 34-44.
    6. Kenneth J. Meier & Nathan Favero & Mallory Compton, 2016. "Social Context, Management, and Organizational Performance: When human capital and social capital serve as substitutes," Public Management Review, Taylor & Francis Journals, vol. 18(2), pages 258-277, February.
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