Russia belongs to the group of countries with a high level of human capital and is ranked 34th out of 157 countries on this metric, write the authors of the bulletin "Russian Education in the Context of the Human Index" published by the Analytical Center.
The new bulletin looks at the human development index as an important tool that helps determine the effectiveness of national education systems in ensuring the welfare of the population as well as the approaches to measuring it employed by various international organizations.
The term human capital refers to the knowledge, skills, competencies and other qualities that help people ensure personal social and economic welfare. In order to achieve the goals of Decree No. 204, which envisions a breakthrough in scientific and technological and socio-economic development of the country, a drastic increase in the population, major improvements in the quality of life, the creation of comfortable living conditions and ample opportunities for people to self-realize and tap their talents, major investments will be needed in the development of the human potential, therefore the issue of the effectiveness of investments in education becomes especially relevant.
Investments in education are in effect investments in human capital and can bring about improvements in the quality of the workforce, an increase in household income, and improved efficiencies of the sectors of the economy, the study says. Thus, according to the experts, in Russia, the average income of people that have higher education degrees are more than 14% greater than the average income of those who don't.
According to the World Bank, Russia is ranked 34th out of a total of 157 countries and is included in the group of countries with high level of human capital. It is forecast that the productivity of people born in 2018 in our country, once they reach adulthood, will be 73% of the potential productivity that they could achieve assuming they get a higher education and remain in perfect health. This is slightly higher than the average for Europe and Central Asia and significantly higher than the average for countries with an above-average household income.
Russia is ranked 43rd in the 2018 UN Human Development Index and belongs to the group of leading countries. The UN Human Development index looked at 189 countries and provided a long term forecast that takes into account the life expectancy, literacy and education levels as well as living standards.
In its 2017 Global Report on Human Capital, the World Economic Forum also gave Russia a leading position. The experts ranked 130 countries assessing them on the following indicators: the education level among the younger and older generations as a result of past investments in education, the education level of the next generation of the workforce and improvements in qualification of employees, the application and accumulation of skills of the adult population as well as the width and depth of the use of special skills in the workplace. Russia was ranked 16th in this study.
For more see the bulletin "Russian Education in the Context of the Human Capital Index".
Other bulletins on current educational trends see in Publications.