Research on Capitalization of Professional Knowledge in Russia and in the World

The aim of the paper is to analyze the rate of return to education, which is the general measure of human capital' quality. This measaure can be researched by two general approaches: at the macro level and at the micro level. The first approach is the estimation of the production functions of different specifications, the second one is the estimation of the Mincer’s type equation of wage. Within the framework of macro level approach using dynamic panel data models we estimate Kobb-Duglas type production function with human capital argument. This estimates are obtained for different counties, which allows us to conduct classification of the countries according to the estimated parameters based on fuzzy clustering methodology. In the third part of the paper we estimate the rates of return to education in Russia and Ukraine using modified Mincer’s type equation of wage. We extend classical approach and apply quantile regressions for longitudinal data, which allows to analyze the whole conditional distribution of the dependent variable. Also we conduct a comparative analysis of two countries and observe what country has achieved a greater sucess in development of educational system and institutional environment. Finally, in the paper presented a model of joint distribution of the logarithm of wage and years of schooling based on copula models, which allows to analyze the relation between considered variables.