THE IMPORTANCE OF HUMAN CAPITAL IN SUSTAINABLE ECONOMIC DEVELOPMENT PROVIDING: EUROPEAN EXPERIENCE AND THE LEGAL ASPECT

Abstract

In the current conditions of globalization changes, increased competition, informatization of all spheres of public life, strategic development direction of Ukraine is to develop innovative and investment socially oriented model of sustainable economic development. Under such conditions, human capital is a key factor in enhancing the competitiveness of the national economy; it is an asset that capable to provide the receiving of competitive advantage through the use of unique human capabilities that in today’s information society is a driving force in building and providing sustainable economic development. The accumulation and reproduction of human capital should be considered as a strategic resource capable to ensure the sustainable socio-economic and spiritual-intellectual development of society. It is relevant to study and use European experience in implementing an action plan to ensure the sustainable development of the European Union (EU) through the development and accumulation of human capital, in particular the «Europe 2020» strategy. It is found out that Ukraine has its own programs, strategies and action plans to ensure sustainable economic development based on human capital. In order to determine the level of development of human capital of Ukraine, the country’s position on this indicator in various international rankings was analyzed. It is found out that Ukraine has formed national legislation based on the Constitution of Ukraine, laws of Ukraine, presidential decrees, CMU decrees, international agreements and other documents adopted by state authorities and provide for the formation, development, reproduction of the basic components of human capital. Priority directions of ensuring the liberal-democratic legal field of human capital development in the conditions of innovation, technical and demographic challenges, development of the information society and

Keywords

• human capital
• investments
• legislative support
• sustainable development
• globalization