DETERMINING THE VALUE OF HUMAN CAPITAL IN AGRICULTURE

Issue № 6, 2025, article № 20, pages 208-217

Section:

Language: Russian

Original language title: ОПРЕДЕЛЕНИЕ СТОИМОСТИ ЧЕЛОВЕЧЕСКОГО КАПИТАЛА В СЕЛЬСКОМ ХОЗЯЙСТВЕ

Keywords: PUBLIC SPENDING, INNOVATION, AGRICULTURE, VALUE, HUMAN CAPITAL

Abstract: In recent years, the concept of human capital has been widely used in economic theory and practice to assess the potential of labor resources of a country (region, industry, company) and to plan their development. Most scientists consider human capital as the sum of knowledge, skills, abilities, skills and experience that a person possesses, transforming these assets into economic value through his/her labor activity. There are various methodological approaches to the assessment of human capital, including: quantitative methods based on the determination of future income from investments in education, health, and qualitative methods that allow to establish the impact of intangible assets, including job satisfaction, personal development, etc., as well as the assessment of the value of human capital. One approach involves calculating the cost of education as the main factor determining its potential, the increase in the level of which on average for one year (according to the study of the International Monetary Fund) leads to an increase in GDP by 0.3%-0.6%. A number of other researchers in developed countries evaluate its importance more highly in comparison with other types of investment, believing that the efficiency of financial investments in higher education of a person ranges from 10% to 15%. Health plays an important role in the formation of human capital. According to the estimates of economic scientists, improvement of personnel health contributes to the growth of labor productivity by 20% and more. The effect of investing the state or companies in the health of their citizens (for example, through disease prevention programs or improved medical care) is achieved by reducing the number of days of disability, increasing the duration of working age and improving the quality of life. The article attempts to determine the value of human capital in agriculture on the basis of available information on public expenditures in education, health care, sports, generation and transfer of new knowledge, and development of rural areas.

Authors: Astrakhantseva Elena Yurievna