Human Capital as Main Factor of Innovation Development (on the Example of Russian Regions)

The aim of the study is to identify the influence of human capital on output growth of innovation in the regions of Russia and formulation of practical recommendations for policies aimed on regional innovation system development. Objectives of the study: a) to Give a clear definition of "innovation", to identify their types and characteristics from the point of view of economic development of the region; b) to Identify the factors of socio-economic systems of innovative approach C) to Disclose the content of the concept of human capital; g) to Build hypotheses on the main factors that influence the increase in the production of innovation in the regions through human capital; d) Conduct regression analysis that will allow to confirm the hypothesis; e) to Give recommendations for the improvement of regional policy in the sphere of innovation development To achieve this goal was used empirical research methods: data collection and econometric modeling. An econometric study was based on sampling over the period from 2003 to 2012, 78 regions of the Russian Federation. We used the following statistical methods of research: regression analysis and Spearman correlation analysis. On the basis of the results obtained during the regression analysis, recommendations were made on directions of regional policy. All the goals and objectives were achieved during the execution of the work.