Human capital has had a negative impact on Russia’s economic growth in recent years due to deterioration of public health and a decrease in the flow of young personnel. writes about this RBC With reference to a study by HSE Development Center expert Daria Avdeeva.
According to their calculations, the contribution of human capital to the GDP dynamics of the Russian Federation in 2020-2021 was -0.4% and -0.6%, respectively. Moreover, in 2000-2003. Its negative impact was mainly associated with the deterioration of citizens’ health.
From 2004 to 2017, human capital contributed positively to GDP growth, reaching a maximum of 1.3 percentage points. It provided 15% of total growth in 2007. Later its influence began to weaken; It has not exceeded 0.1 percentage points since 2018.
One of the reasons for this was the slowdown in the entry of young personnel into the labor market in the 2010s. In 2006-2009. The average annual contribution of human capital was +0.9 points in 2010-2013. It dropped to 0.5 percent in 2014-2017. – up to 0.4 pp
The expert notes that in 2000-2008, the number of people employed in the Russian Federation increased from 65.1 million to 71 million, which ensured the renewal of human capital due to the influx of young people. But later the trend reversed.
Avdeeva warns that the transformation of the Russian economy due to sanctions increases risks to human capital prospects, which has had a negative impact on GDP in the last two years.
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Source: Gazeta
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