OREANDA-NEWS  In the last few years, human capital has been making a negative contribution to the dynamics of Russia's economic development.In the last few years, human capital has been making a negative contribution to the dynamics of Russia's economic development. So, in 2020 and 2021, it took 0.4 and 0.6 percent from GDP, respectively. This is the conclusion reached by Daria Avdeeva, a leading expert at the HSE Development Center, in the article "The contribution of human capital to the growth of the Russian economy," writes RBC.

There are no calculations for the period 2022-2023 yet, but the transformation of the Russian economy increases the risks to the prospects of human capital, she pointed out.

Modern concepts of human capital tend to include knowledge, skills, experience and health. Avdeeva used her index reflecting employee productivity related to education and health.

According to her estimate, in 2000-2003, the contribution of human capital to GDP was minus 0.2 percentage points per year. Basically, this dynamics was associated with a deterioration in health. In the following years, from 2004 to 2017, the impact of human capital was positive, collectively it brought up to 15 percent of GDP growth.

This factor made the greatest contribution in 2007 — plus 1.3 percentage points of growth. But since 2014, the increase has been at the level of 0.4 percentage points and below, so in 2018-2019, the contribution fell below 0.1 percentage point.