Comparative Assessment of the Human Capital Impact on the Population Income in the European and Asian Regions of Russia

The relevance of the study is explained by the link between economic growth and investment in human capital.The purpose of the study is a comparative analysis of the dynamics of the return of physical and human capital in the European and Asian regions of Russia.Materials and methods. In the article, the authors use the extended Cobb-Douglas production function and conduct a regression spatial analysis based on data of the official Russian statistics.Results. There are estimates of the relationship between the income of the population of regions with the number of employed, with the volume of fixed assets of regions and human capital; the wage fund of the population of regions with the number of employed, with the volume of fixed assets of regions and human capital, the elasticity coefficients are justified. The authors analyzed and interpreted the values of the elasticity coefficients. In particular, the coefficients of elasticity of household income by fixed assets for Asian and European regions tend to decrease; the authors explain this by the low level of investment in the renewal of fixed capital at enterprises. The coefficients of elasticity of income of the population by the number of people employed in the economy of the regions are noticeably higher and tend to increase. At the same time, human capital has a stronger impact on the income of the population than fixed assets and the number of