Role of state educational policy in the development of human capital: international view

In the article, the authors touched on relevant topic of the impact of state educational policy on the development of human capital, which is revealed in the context of opinions of foreign researchers. In particular, it was found that American researchers emphasized the great impact of education on the development of human capital, determining education as a crucial factor in ensuring labor productivity. Further research by authors who supported and criticized this theory improved and expanded it, highlighting such an aspect as the impact of state educational policy on the development of human capital. The authors analyze the balance between economic rationalism and moral values in the development of human capital; creation of conditions for creativity in the activities of educational institutions. The importance of investment as an important form of impact on the development of human capital is revealed. Based on this analysis, the attention is focused on the fact that foreign authors emphasize the expediency of forming such a state educational policy that would create conditions for creativity in the activities of educational institutions that positively contributes to the formation and development of highly educated people who are able to act effectively in a constantly changing world and adequately respond to the unforeseen challenges of scientific and technological progress. It is noted that most foreign researchers believe that investment in human capital in the form of financing both formal and informal education, as well as vocational training is an urgent problem when forming and implementing state educational policy, where the main criteria should be efficiency (costs should be minimal, but effective); productivity (ratio of educational services to the amount of costs); performance (matching the education costs and achieved specific goals).