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Evaluating total investment in children's human capital at the regional level: Evidence from the Volgograd Oblast

Vol. 12, Iss. 4, DECEMBER 2019

Received: 9 April 2019

Received in revised form: 24 April 2019

Accepted: 16 May 2019

Available online: 29 November 2019

Subject Heading: INNOVATION AND INVESTMENT

JEL Classification: J11, J24

Pages: 418–434

https://doi.org/10.24891/fa.12.4.418

Antonenko V.V. Volgograd State University (VolSU), Volgograd, Russian Federation
avv1@mail.ru

ORCID id: not available

Subject The article focuses on the efficiency of investment in creating and promoting key constituents of children's human capital in today's Russia.
Objectives The study analyzes and evaluates total volume and composition of investment in children’s human capital that is made by all parties to the analyzable investment process. I determine the sequence of costs to be incurred for creating and developing key constituents of the future human capital in order to evaluate the effect of such investment.
Methods The study is based on the representative survey of parents who have children aged under 10 and reside in Volgograd and the Volgograd Oblast. We also interviewed experts, collected and systematized official data on the subject from various sources and subsequently analyzed primary and grouped data.
Results The article informs on households' costs of physical development and health support per child aged under 10 in the Volgograd Oblast, education costs, total investment of all parents in children's health and education in the region. I also assess total investment of the region's households in the creation and development of key constituents of children's human capital, total investment in children's health and education nationwide, total investments of parents in the future human capital in Russia.
Conclusions and Relevance Budgetary investment, investment of households and business have been demonstrating common trends for the recent decade, starting from a stable growth and dropping afterwards. Non-financial or infrastructure indicators of investment in children gradually and evenly decreased. The findings can be used to articulate the socio-economic policy for the reasonable use of human capital. Furthermore, they can serve for teaching students of economics.

Keywords: human capital, investment efficiency, human capital, investment in children, applied statistics

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