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

N.A. Novruzov

UDC 331.5(479.24)


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


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.



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