Abstract
The
hyper-competitive global economy of the twenty-first century has become an era
of innovation, technology, productivity, new knowledge, and skills, focused on
sustainable and inclusive growth. Human capital is one of the fundamental
factors for ensuring sustainable and inclusive growth. The process of human
capital formation is long and is influenced by many factors. Its measurement is
one of the actual issues. The negative effects caused by the pandemic were
added to the humanitarian, economic, logistical, and other types of problems
caused by the Russia-Ukraine war, which took on a global character and affected
all countries of the world with more or less severity.
This study
aims at providing a theoretical concept of human capital measurement and
innovation activity indicators. The
paper studies the role of human capital and innovation activity for a country’s
development based on the experience of Georgia.
For this purpose, multiply regression models have been built and
evaluate. The empirical results based on
models and coefficient’s significance suggests causality between human capital,
innovation activity and the economic growth of Georgia: Contribution of human
capital and innovation activity to economic growth is essential.
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IJBMS by IPRPD is licensed under a Creative Commons Attribution 4.0 International License.