State Regulation of Innovative Development of Human Capital

Abstract

Purpose: The article aims to study the impact of public authorities on the innovative development of human capital and substantiate its importance for the further growth of the economy.   Theoretical reference: The innovative development of human capital plays a crucial role in enhancing the efficiency and quality of public services, leading to reduced societal inequalities and contributing to the country's sustainable development. In an era of rapid technological advancements, adapting to new realities and fostering a skilled workforce is vital for public authorities to meet the demands of a competitive labor market.   Method: The methodological approach is based on the analysis of legal acts, scientific research and statistical data for the last five years. In addition, a comparative analysis of different countries is used to highlight positive practices and note aspects that need improvement.   Results and Conclusion: During the analysis, it was found that the state can influence the development of human capital by promoting education, improving qualifications, and creating an encouraging environment for the development of creativity and leadership qualities. The article emphasizes the need for an active state support of innovative initiatives, as well as reforming the system of public authorities in order to ensure a more effective impact on the development of human capital.   Search Implications: Тhe state has a significant potential to stimulate the innovative development of human capital, and it is important to develop and improve its role in this process in order to achieve sustainable economic progress.   Originality/value: To realize the necessity of active state support, improve the legislative framework, and establish a sustainable innovation ecosystem in human resource management, which will contribute to further enhancing the country's competitiveness in the global market.