ON THE WAY OF UKRAINE'S ECONOMIC GROWTH: HUMAN CAPITAL
Authors:   Kharkiv National University of Radio Electronics, Sokolova Liudmyla , Dyuzhev Viktor ,   National Technical University «Kharkiv Polytechnic Institute»
Published: May 2023

The article discusses a number of issues related to the relationship between the economic development of countries and the development of their human capital. It was found that experts predict several scenarios of the development of humanity, which will be caused by challenges and upheavals. The world has already faced disasters that gradually change the vector of human development and become the cause of the breakthrough or decline of individual countries. Today, these aspects have become especially relevant for the population of Ukraine, which is experiencing the aggressive destructive power of an external aggressor. The country's national economy, its human capital, and the lives of Ukrainians have been in a state of destruction for the past eight years. The country's gross domestic product is falling, mass migration is observed, and the level of life security of the population is increasing. That is why it is very important to pay attention to the peculiarities of the economic growth of Ukraine and the development of its human capital. In the work, it was investigated that the modern effective way of economic recovery and further sustainable growth of countries is the development of human capital. The importance of the influence of human capital on the wealth of countries has been established. Underestimating its development leads to limiting the possibilities of sustainable economic growth of countries. It has been proven that the implementation of a set of measures for the development of human capital requires economic freedom, an increase in the level of people's well-being, and the creation of a favorable innovation climate. In this context, a brief description of a number of interconnected Global Indices was provided and a retrospective comparative analysis of the TOP-10 ratings of the world and Ukraine was conducted. The obtained results made it possible to suggest that when forming conditions and directions for the development of human capital of Ukraine, take into account not only the results of comparative ratings, but also the huge potential of human capital for the economic development of the country in the near future. The institutional conditions for the development of human capital of Ukraine are disclosed. The analysis and generalization of the recommendations of influential international experts allowed us to come to the conclusion that the economy of Ukraine should become more productive, sustainable and inclusive. For this, it is necessary to carry out an economic transformation using the capabilities of digital technologies and multiply the human capital resource in science, education, and management. This will contribute to the innovative development of Ukraine's economy, increase the level of the country's defense capability, social well-being and the quality of life of its citizens. The expediency of drawing society's attention to the importance of human capital as a significant factor in the economic growth of Ukraine in the modern, incredibly difficult and turbulent external environment has been proven.