Affiliations: Department of Accounting and Auditing, Al-Farabi Kazakh National University, Almaty, Republic of Kazakhstan
Correspondence:
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Corresponding author: Ramzan E. Janshanlo, Department of Accounting and Auditing, Al-Farabi Kazakh National University, 050040, 71 Al-Farabi Ave., Almaty, Republic of Kazakhstan. Tel.: +7 87775839656; E-mail: ramz.janshan96@gmail.com.
Abstract: BACKGROUND:The article discusses various approaches to the concept of ‘human capital’. OBJECTIVE:In the modern economy, human capital is becoming the most important factor in economic growth and determines the future of the country. The purpose of the research is to analyse the index of human capital in Kazakhstan, what factors have an influence and find ways to increase it. METHODS:Various methods were used, including analysis and synthesis, measurement and comparison. RESULTS:Based on the analysis of qualitative and quantitative parameters of human capital, the trends in the human development index are revealed. It was shown that human capital is a necessary independent factor determining economic growth. An attempt has been made to solve the problems of valuing human capital and equitable distribution of income in the context of the amortization of human capital. CONCLUSIONS:The main areas of human capital formation need to be reformed, in particular education and health, by enhancing investment. An analysis of the values of the human development index clearly shows that for the economic development of states it is necessary to pay more attention to such indicators for the level of education as well as for a decent standard of living for every citizen.
Keywords: Knowledge economy, human capital, human development index, investment, economic growth, income distribution
