Human Capital as a Factor of Informal Employment in Azerbaijan (in English)

UDC 331.5(479.24)

https://doi.org/10.20339/AM.08-21.091

N.A. Novruzov is Senior Specialist at National Observatory on Labor Market and Social Protection, Baku, Azerbaijan e-mail: stormtrooper-512@mail.ru

Discussed are the theory of sustainable development of society and the concept of national wealth which are based on the recognition of man as the driving force of social development. The formation and development of human capital, the use of its potential is becoming, along with the development of technology, a key factor in the development of the productive forces of society. A person, possessing a combination of various forces and abilities, is a factor of economic growth. The aim of the work is to study the development of human capital and the growth of its role in modern society. In accordance with the set goal, the following tasks are solved: clarification of the content of the concept of “human capital”, consideration of the theory of human capital within the framework of historical development and disclosure of its function, identifying the types of human capital and factors affecting it, analysis of the state of human capital in Azerbaijan, identification of risks and challenges, recommendations for improving human capital in the country.

Key words: human capital, factors of human capital, index of human capital, types of human capital, peculiarities of human capital, risks and challenges.

References

1. Human capital: content and types, evaluation and stimulation: monograph / Smirnov V.T., Soshnikov I.V., Romanchin V.I., Skoblyakova I.V. Prof. V.T. Smirnova (Еd.). Мoscow: Mashinostroenie-1; Оrel: Orel State technical University, 2005. 513 p.

2. Becker, G.S. Human Behavior: Economic Approach: Selected Works on Economic Theory. Moscow: GU VSHE, 2003.

3. Schultz, T.W. Capital Formation by Education. Journal of Political Economy. 1960. Vol. 68, No. 6. P. 571–583.

4. Dyatlov, S.A. The theory of human capital. St. Petersburg, 1996. 141 p.

5 Nordhaug, O. Human Capital in Organizations: Competence, Training and Learning. Oslo: Scandinavian University Press, 1993.

6. Change in the nature of labor. World Development Report 2019. World Bank. URL: http://documents.worldbank.org/curated/en/469061544801350816/pdf/WDR-2019-RUSSIAN.pdf#page=58

7. Ishmuratova, D.F. The role of education systems in ensuring sustainable development of society. Innovative technologies for managing the socio-economic development of the regions of Russia: materials of VIII All-Russian scientific-practical conf. with international. participation. Ufa: Institute of Socio-Economic Research UNC RAN, 2016. P. 270–273.

8. URL: https://ourworldindata.org/smoking

9. URL: https://www.researchgate.net/publication/324003683_Smoking_Behavior_and_Human_Capital_Investment_Evidence_from_Indonesian_Household

10. URL: https://www.worldlifeexpectancy.com/azerbaijan-alcohol

11. URL: https://spravochnick.ru/ekonomika/teoriya_chelovecheskogo_kapitala/faktory_chelovecheskogo_kapitala/

12. URL: https://gtmarket.ru/ratings/human-development-index

13 Abdelaziz Jaouani, Margareta Nikolovska, Mihaylo Milovanovitch and Susanne Nielsen, ETF. POLICIES FOR HUMAN CAPITAL DEVELOPMENT AZERBAIJAN. European Training Foundation, 2020.

14. URL: https://gtmarket.ru/ratings/human-development-index

15. URL: https://bakuresearchinstitute.org/on-human-capital-in-azerbaijan/

16. POLICIES FOR HUMAN CAPITAL DEVELOPMENT AZERBAIJAN AN ETF TORINO PROCESS ASSESSMENT. The European Training Foundation (ETF).

17. Strategic investments in human capital to accelerate the development of Azerbaijan. International Bank for Reconstruction and Development. World Bank 2020.