Komarova A.S.Tula State Lev Tolstoy Pedagogical University, Tula, Russian Federation 9anka@bk.ru
Importance The article reviews issues of human capital as one of the main factors influencing the labor productivity. At the current phase of the economic development, growth in gross domestic product relates to innovations, which represent results and products of human capital and education, in particular. It means that, to determine the social and economic strategy for the governmental development as a whole and in regions, in particular, it is necessary to perform a quantitative and qualitative evaluation of human capital being a driving force of economic growth and accumulation of national wealth. Objectives The research aims at determining the elasticity coefficient of labor productivity on the basis of the educational level of the employed population in the Volga Federal District of the Russian Federation. Methods The researcher analyzes what effect human capital has on the labor productivity in the Volga Federal District of the Russian Federation. When analyzing, the author applies a research program based on econometric models of efficiency growth and the data of the Federal State Statistics Service. Results The author calculates elasticity coefficients for each of the fourteen regions of the Volga Federal District, using specific regression equations for each argument. Based on the characteristics provided, the regression analysis generates adequate econometric models. Conclusions The educational level of population is relevant to determine the labor productivity in the regions of the Volga Federal District of the Russian Federation. The results may be applied to further studies of the regions' economics.
Keywords: elasticity coefficients, regions, regional growth, regression analysis, elasticity, labor productivity, education, level, Volga Federal District<br>
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