Importance The article presents some research results of investment efficiency in the Russian youth human capital. The subject is rather important, as today we observe inefficient investment of money and other assets and resources in the human capital of modern Russian youth by all investment process actors, from an individual or family to the State. It comes through a non-optimal ratio of funds invested in the basic elements of human capital (health, education, etc.) to the return obtained. Socio-economic and demographic indices show that nowadays young men are not insufficiently healthy, professionally competent, etc. Objectives The aim of the research is to estimate real economic effect of investments in the contemporary Russian youth human capital. Methods We calculated the total volume of household investments in higher education and health of young people in the Volgograd region and the Russian Federation as a whole based on official statistics and our own research results. The study also intends to estimate the return on investment in human capital of the contemporary Russian youth through calculating the ratio of invested funds and resource volume in the youth human capital by major investors to the useful effect of these investments. The useful effect in this case is interpreted as both the economic effect (an increase in the income of all actors) and the non-economic or social effect. Results We have obtained absolute and relative numerical values specifying the total volume and structure of household investments in the basic elements of the youth human capital in our country and its typical region (i.e. the Volgograd region). Conclusions and Relevance The results can be summarized as follows: the total volume of household investments of the Volgograd region in education is the highest, and in health, it is low. As for Russia, the investment volume in education is high (however, slightly lower than in the Volgograd region), and in health, it is average (significantly higher vs. the Volgograd region). The academic novelty of the study is that this sort of comprehensive analysis is the first in the Volgograd region. In addition, the cross-disciplinary approach and the use of methods applied in related sciences are quite rare for studies in this area.
Keywords: human capital, Russian youth, investment, education, health, family, households, investor, return on investment, efficiency
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