Institutional promotes and restrictions on human capital development: theory, facts, figures
Journal Title: Економіка. Фінанси. Право - Year 2019, Vol 4, Issue
Abstract
Introduction. Human capital is the greatest wealth not only in the national economy, but also at the world level. On the one hand, it is considered as a resource that provides sustainable development on the micro, macro level, in a global dimension. On the other hand, progressive states and businessmen put people at the forefront with their needs and spiritual values. The specificity of the national institutional environment creates, accordingly, individual national conditions that promote or restrict the development of human capital. Purpose. The purpose of the work was to study the institutional impact on the development of human capital, on the basis of an analysis of institutional factors for determining the possibilities for its development in the institutional environment, development of the directions of human capital development taking into account the influence of institutional components, identifying the main problems and trends of human capital development in Ukraine. Results. The functioning of human capital is limited by existing norms and rules, is subject to certain legislative acts, takes place within the framework of certain organizations and, thus, is institutionalized. In contrast to the consideration of traditional factors of influence on the development of human capital in the study the effect of the institutional environment. The composition of the factors influencing human capital is complemented by new institutional, which thoroughly direct the development of human capital: promote or limit. The analysis revealed ambiguity of institutional influences and interactions. A number of low indicators testify to the limited capacity of the institute of economic freedom in the state and defines certain significant constraints for the development of human capital. But there are also positive institutional factors. Conclusion. Institutional factors are distinguished. The defining directions of development of the human capital of the national economy are proposed, taking into account institutionalization.
Authors and Affiliations
Viktoriia Mykolaivna Kolomiiets
Keywords
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