Methodological Justification of Studying Human Capital Development in the Context of Institutional Theory

Abstract

In theory and practice of economic management, issues concerning the nature of human capital and its structure, the methodology to study human capital development in the light of institutional theory remain insufficiently studied. The formation of integral thinking regarding the processes of the formation of a new economy determines the need to update the existing methodology to study the development of human capital. The changes in the nature of the development of the economy, movement of the majority of the employed people from the manufacturing to the services sector as well as active creation of artificial intelligence significantly change the views on the development of human capital. The main goal is to formulate a new methodological basis for studying human capital development in the light of institutional theory and the perception of human capital as the basic component and goal of the development of human. The methodological basis for studying the essence of the process of forming the institutional system for human capital development is the general systems theory, systems analysis, synergetics. In the context of an institutional approach to the formation of a methodology for studying human capital, understanding the institutional system as a set of institutions for human capital development, which are in certain interrelations and relationships and form certain integrity, as well as their hierarchies among themselves is most acceptable. The result of the carried out investigation is a methodological justification of studying human capital development in the context of institutional theory. Based on the methodology of theoretical analysis, generalization of existing views, and real state of human capital development, there formulated the main directions to further elaborate the research methodology of the theory of human capital and the practical tasks of its development.

Keywords

• human capital
• institutional system
• institutional theory
• national economy
• knowledge economy