Human Capital and Regional Economic Growth in Russia

This study examines the contribution of human capital accumulation to regional economic growth using panel data for 82 subjects Russian Federation over 2002–2019. paper aims test hypothesis that in long-run equilibrium there exists a connection between and regions Russia. From point view econometrics, it would mean we should refute is no cointegration time series describing aforementioned variables. General theoretical framework was drawn from neoclassical theory, econometrics suggested appropriate empirical methodology. Pooled group fully modified least squares estimators were applied an autoregressive distributed lags model based on Solow model. The results indicate has positive statistically significant long-term impact rate per capita income these variables are cointegrated. Such calculations allow us make following conclusions: GRP cointegrated with physical level. cointegrating equation ‘explained’ more than 90% variance. Human had long run; such exceeded accumulation. surpassed negative elasticity by amount resource excluded real sector provide support students maintain education system. paces at which economies heading towards steady state differed evidence exist incredible manifold ways means adjust disbalancies