Human Capital as a Key Factor of Economic Growth in Crisis

Abstract

The purpose of the article is to determine the role of human capital in overcoming of crisis phenomena in economy by the example of modern Russia. During the research, the authors use such scientific methods as modeling of development of socio-economic systems, factor analysis, analysis of causal connections, systemic and problem analysis, correlation analysis, synthesis, and graphic representation of information. The authors analyze dynamics and connection between Russian economy and innovational activity of Russian enterprises before, during, and after the recent financial crisis and develop an anti-crisis strategy of development of human capital, depending on the phase of economic cycle. As a result, the authors come to the conclusion that overcoming of crisis phenomena in economy is done by innovational activity of enterprises, which is ensured by their human capital.

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