The Impact of Globalization Processes on the Reproduction of Human Capital

Abstract

The rapid development of globalization in the world economy has a significant impact on the transformation of the socio-economic structures. The main vector of this impact is aimed at the reproduction and development of human capital, which is an intensive productive and social factor contributing to the transformation of the economy into a knowledge-based and intellectual one. In this regard, a large number of scientific works done by modern scholars are devoted to the study of the reproduction of human capital and its measurement. The existing methods are based on generally available indicators and allow for cross-country comparisons. However they do not always help to objectively assess the real value of human capital, since they do not directly characterize it. So far, there is the ongoing debate about the impact of globalization on the reproduction of human capital concerning the developing of a new methodology for its evaluation. Therefore, the development of theoretical and methodological principles of the reproduction of human capital and the consideration of various methods of its analysis in the modern paradigm of the development of the world economy is of utmost importance. This study allows us to consider the relationship of the world globalization processes and reproduction of the human capital and to determine Russia's place in the global ranking of countries on the development of human capital. The study revealed the shortcomings of existing approaches to the assessment of human capital. The need for adjusting the methods for analyzing its reproduction has been substantiated. Keywords-the reproduction of the human capital, globalization, cross-country comparisons, the measurement of human capital. the human capital is reproduced as both the labor force and the capital;