Assessing the impact of human capital on innovative development

Abstract

The aim of the research is to study the interrelation between the level of human capital and innovation development in different countries in the context of transition to sixth technological level. In order to achieve the stated aim the author tries to understand the opportunities of developing countries and define the preconditions for their successful transition to developed countries group. The author formulates the hypothesis of considerable difference in sensitivity and influence of innovations on the level of human capital in that respect for groups of different countries. In order to test this hypothesis the author used analytical, statistic and correlation and regression analysis methods. Combination of these methods allowed for identifying different degree of relation between human capital level and GDP, human capital and innovations, innovations and GDP. According to such analysis there is a close connection between human capital level and GDP, less intense interrelation between innovations and human capital and weak relation between innovations and GDP. The author suggested taking certain measures in six directions to support innovation development of developing countries. Obtained results can be used for providing justifications and innovation processes regulation measures considering national priorities in academic, technological and economic development of the country.