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Regional Economics: Theory and Practice
 

The volume and structure of family investment in young people's health in contemporary Russia

Vol. 13, Iss. 7, FEBRUARY 2015

Available online: 9 February 2015

Subject Heading: Social sphere

JEL Classification: 

Pages: 49-57

Antonenko V.V. Volgograd State University, Volgograd, Russian Federation
avv1@mail.ru

Importance Health is a key element of an individual's human capital, because human health directly determines how effectively an individual can work, earn income for himself, his employer, the State, or other entities. Therefore, the cost of individual's health support is an essential and integral part of human capital investment. However, there is a practice of irrational investment of monetary and other means and resources in the human capital of the today's Russian youth by all actors of the considered investment process: from an individual or a family to the State. The non-optimal ratio of investments and the obtained results show this trend.
     Objectives The research aims to investigate the real economic efficiency of human capital investment of today's Russian youth. The scientific novelty of this research lies in the fact that this kind of comprehensive studies has not been carried out in the Russian Federation. Only general aspects of the formation of human capital of an individual, enterprise, region or country have been examined.
     Methods As for methodological tools, I have used a sample interview of the Volgograd region's residents having children aged from 14 to 22. The article analyzes the efficiency of human capital investment of the modern Russian youth by estimating the ratio of invested money and resources by the main investors and the beneficial effects from the investment, which are understood as both the economic effect (an increase in income of all subjects) and the non-economic or social effect.
     Results In the course of the research, I have obtained representative data on the structure and volume of investments of a typical Russian family in young people's health. I prove that increased investment in health by families in their economically dependent members aged from 14 to 22 is an important resource for improving the quality of the Russian youth's human capital.
     Conclusions and Relevance The findings enable to identify the potential for enhancing the efficiency of human capital investment and to make specific recommendations at all levels (for all investors).

Keywords: regional human capital, region, youth, health, investment, investor, efficiency, elements

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