IDEAS home Printed from https://ideas.repec.org/a/ris/statec/0024.html
   My bibliography  Save this article

Dynamic optimization model of financial resources distribution for accelerated promotion to the regional human capital development

Author

Listed:
  • Mazelis, Lev S.

    (Vladivostok State University of Economics and Service)

  • Krasko, Andrey A.

    (Vladivostok State University of Economics and Service)

  • Krasova, Elena V.

    (Vladivostok State University of Economics and Service)

Abstract

The research is made as part of the actual scientific and practical task, which is the accumulation and development of human capital in Russian regions. In conditions of risk and limited resources, the regional management is faced with the problem of optimal financial resources distribution concerning the human capital development and improving the life quality. The purpose of the research is to design and test on the example of Primorsky region a dynamic optimization model for the financial resources distribution in the areas of investment in human capital. The multi-period economic and mathematical model describes in recurrence dependencies format the influence of volumes and structure of state and private investments on regional human capital. The target function of the model is an integral indicator showing how targets in regional human capital were reached. The model is one of the math programming tasks, and optimization variables are the shares of the investment resources distribution by investment areas and years. In terms of practice the proposed model is a management tool to find the optimal structure for distribution of investments in human capital by investment areas and time periods. Based on the results of modeling and numerical calculations on the example of Primorsky region in dynamics over the years, the investment structure advancing as much as possible get the human capital targets was proposed and described. It is concluded that in the long term, a more equable investment structure in areas will contribute to the achievement of targets: along with education and healthcare, it is advisable to increase investments to other areas, principally to national politics, national security, public order protection, and social policy.

Suggested Citation

  • Mazelis, Lev S. & Krasko, Andrey A. & Krasova, Elena V., 2019. "Dynamic optimization model of financial resources distribution for accelerated promotion to the regional human capital development," Economic Consultant, Roman I. Ostapenko, vol. 28(4), pages 21-30.
    • Handle: RePEc:ris:statec:0024
    as

    Download full text from publisher

    File URL: https://gossovetnik.files.wordpress.com/2019/12/190403.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Fleisher, Belton & Li, Haizheng & Zhao, Min Qiang, 2010. "Human capital, economic growth, and regional inequality in China," Journal of Development Economics, Elsevier, vol. 92(2), pages 215-231, July.
    2. Salike, Nimesh, 2016. "Role of human capital on regional distribution of FDI in China: New evidences," China Economic Review, Elsevier, vol. 37(C), pages 66-84.
    3. Kottaridi, Constantina & Louloudi, Konstantina & Karkalakos, Sotiris, 2019. "Human capital, skills and competencies: Varying effects on inward FDI in the EU context," International Business Review, Elsevier, vol. 28(2), pages 375-390.
    4. Guangyou Zhou & Kuangxiong Gong & Sumei Luo & Guohu Xu, 2018. "Inclusive Finance, Human Capital and Regional Economic Growth in China," Sustainability, MDPI, vol. 10(4), pages 1-20, April.
    5. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," NBER Chapters, in: Investment in Human Beings, pages 9-49, National Bureau of Economic Research, Inc.
    6. Oikonomou, Ioannis & Platanakis, Emmanouil & Sutcliffe, Charles, 2018. "Socially responsible investment portfolios: Does the optimization process matter?," The British Accounting Review, Elsevier, vol. 50(4), pages 379-401.
    7. Teixeira, Aurora A.C. & Queirós, Anabela S.S., 2016. "Economic growth, human capital and structural change: A dynamic panel data analysis," Research Policy, Elsevier, vol. 45(8), pages 1636-1648.
    8. Fraumeni, Barbara M. & He, Junzi & Li, Haizheng & Liu, Qinyi, 2019. "Regional distribution and dynamics of human capital in China 1985–2014," Journal of Comparative Economics, Elsevier, vol. 47(4), pages 853-866.
    9. Jacob Mincer, 1958. "Investment in Human Capital and Personal Income Distribution," Journal of Political Economy, University of Chicago Press, vol. 66(4), pages 281-281.
    10. Ilya Korshunov & Olga Gaponova & Nadezda Gaponova, 2019. "Adult training and education in the context of economic development of regions," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 107-120.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mazelis, Lev S. & Krasko , Andrey A. & Krasova, Elena V., 2021. "Distribution of financial resources by areas of investments in the human capital of the region," Economic Consultant, Roman I. Ostapenko, vol. 36(4), pages 4-16.
    2. Coronel Vicente J. & Díaz-Roldán Carmen, 2024. "Government Expenditure, Education, and Productivity in the European Union: Effects on Economic Growth," Economics - The Open-Access, Open-Assessment Journal, De Gruyter, vol. 18(1), pages 1-24.
    3. Jialun Yang & Frank Y. Feng, 2020. "Engineer CEOs and Corporate Innovation," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 10(6), pages 1-5.
    4. Tânia Pinto & Aurora Teixeira, 2023. "Does scientific research output matter for Portugal’s economic growth?," GEE Papers 0174, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Jul 2023.
    5. Falch, Ranveig, 2021. "How Do People Trade Off Resources Between Quick and Slow Learners?," Discussion Paper Series in Economics 5/2021, Norwegian School of Economics, Department of Economics.
    6. Andrea Pontiggia & Lala Hu & Marco Savorgnan, 2013. "ChinaÕs Human Resources Development: Recent Evolution and Implications for the Global Market," Working Papers 29, Venice School of Management - Department of Management, Università Ca' Foscari Venezia.
    7. Zhang, Xiaobei & Wang, Xiaojun, 2021. "Measures of human capital and the mechanics of economic growth," China Economic Review, Elsevier, vol. 68(C).
    8. Xinhui Wu & Luan Chen & Li Ma & Liru Cai & Xun Li, 2023. "Return migration, rural household investment decision, and poverty alleviation: Evidence from rural Guangdong, China," Growth and Change, Wiley Blackwell, vol. 54(1), pages 304-325, March.
    9. Paul Eliccel, 2016. "Culture and Accumulation of Capital : An Empirical study in the Context Haitian Society [Culture et accumulation du capital : une étude empirique dans le contexte social haïtien]," Working Papers hal-01555285, HAL.
    10. Hans Dietrich & Harald Pfeifer & Felix Wenzelmann, 2016. "The more they spend, the more I earn? Firms' training investments and post-training wages of apprentices," Economics of Education Working Paper Series 0116, University of Zurich, Department of Business Administration (IBW).
    11. Dusan Paredes Araya & Tomothy M Komarek, 2013. "Spatial Income Inequality in Chile and the Rol of Spatial Labor Sorting," Documentos de Trabajo en Economia y Ciencia Regional 46, Universidad Catolica del Norte, Chile, Department of Economics, revised Apr 2013.
    12. Barros, Carlos P. & Guironnet, Jean-Pascal & Peypoch, Nicolas, 2011. "Productivity growth and biased technical change in French higher education," Economic Modelling, Elsevier, vol. 28(1-2), pages 641-646, January.
    13. Bacalhau, Priscilla & Mattos, Enlinson & Ponczek, Vladimir Pinheiro, 2019. "College quality signaling and individual performance: effects on labor market outcomes after graduation," Textos para discussão 502, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
    14. Olimpia Neagu, 2014. "Human Capital: A Determinant Of Regional Development? An Empirical Study On The European Union," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 132-140, October.
    15. Yasser Razak Hussain & Pranab Mukhopadhyay, 2023. "How Much do Education, Experience, and Social Networks Impact Earnings in India? A Panel Data Analysis Disaggregated by Class, Gender, Caste and Religion," SAGE Open, , vol. 13(4), pages 21582440231, December.
    16. Perri, T. J., 2003. "The cost of specialized human capital," Economics of Education Review, Elsevier, vol. 22(4), pages 433-438, August.
    17. Kirill Borissov & Stefano Bosi & Thai Ha-Huy & Leonor Modesto, 2017. "Heterogeneous Human Capital, Inequality and Growth: The Role of Patience and Skills," EUSP Department of Economics Working Paper Series 2017/03, European University at St. Petersburg, Department of Economics.
    18. John M. Barrios, 2022. "Occupational Licensing and Accountant Quality: Evidence from the 150‐Hour Rule," Journal of Accounting Research, Wiley Blackwell, vol. 60(1), pages 3-43, March.
    19. Onur Özdemir, 2023. "The determinants of income distribution: the role of progress in human capital," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(5), pages 4193-4227, October.
    20. Chzhen, Yekaterina & Mumford, Karen, 2011. "Gender gaps across the earnings distribution for full-time employees in Britain: Allowing for sample selection," Labour Economics, Elsevier, vol. 18(6), pages 837-844.

    More about this item

    Keywords

    regional human capital; investment in human capital; financial resources; socially responsible investment; investment structure optimization; multi-period economic and mathematical model; regional development target indicators; regional economy;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:statec:0024. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Roman I. Ostapenko (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.