Impact of Human and Innovative Potential on the Region’s Economic Growth

Abstract

The purpose of this study is to quantify the impact of human and innovation potential on the level of GRP per capita. For this purpose, the regions of the Central Federal district were grouped based on data for 2018. In defining economic development suggested indicators: public expenditure on education, share of employed population with higher education, per capita income, expenditure on technological innovations, the proportion of the number of researchers in the total population, innovative activity of the organizations. Using the method of statistical grouping and analysis of variance, we established a close relationship between the level of human and innovation potential and the level of economic development, and also determined the share of variation in GRP, which is explained by each of the factors. Based on the findings, the article suggests regional policy directions for accumulating human potential and increasing innovation activity in the region to increase the level of GRP per capita.