Public Investment in Human Development in the Russian Federation
[1]
Svetlana Kadomtseva, Faculty of Economics, Moscow State University, Moscow, Russia.
[2]
Victoria Palochkina, Faculty of Economics, Moscow State University, Moscow, Russia.
During formation of the knowledge-based economy, human capital of society determined economic growth and development. The article pays attention to the issues of human capital formation, considers relationship between economic growth and human development. The paper analyzes the dynamics of human development in Russia and in the Group of Seven. The State investment in the social sphere, especially in the programs of social support, education and health, directly affects human development. Increasing budget expenditures make it necessary to implement structural reforms and the change of funding. The article highlights the budgetary allocations to the social sector in Russia, considers the planned expenditures for the medium term and examines the role of public investment in social sphere in achieving the high level of human development.
Sustainable Economic Growth, Social Expenditure, The Human Development Index, Federal Budget Allocations, Public Investment, Formation of Human Capital
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