EFFICIENCY OF HUMAN CAPITAL: THEORETICAL AND METHODICAL ASPECTS

The article deals with the existing theoretical approaches to evaluating the effectiveness of human capital development. The aim of the work is in the conceptualization of approaches to measuring the effectiveness of human capital development. The ambiguity of notions ?human capital? causes a variety of approaches to its measurement and assessment. Systematization of approaches allows you to emphasize basic: 1. Determination of the effectiveness of development on the basis of past efforts (costs). 2. Determination of the effectiveness of development on the basis of return (future income). 3 Determination of the effectiveness of using indexes. Indicative approach to the measurement and assessment of human capital has some advantages compared with other approaches considered, as measurement of human capital with the help of the index allows you to combine dignity and overcome the limitations of natural and cost estimates; measuring and evaluating human capital, representatives of the first two approaches represent a significant emphasis on its capital nature and less on the fact that he is human. This ?gives them the right? to use the theoretical and methodological approaches to the measurement and assessment human capital, by analogy with real capital, which leads to the following methodological one-sided: the human capital is seen as static, stockpiling and ignored its dynamic side - development. Indicative approach eliminates this gap; multifactorial evaluation indexes give both endogenous and exogenous conditions (take into account the influence of the institutional environment), allow us to consider the development of human capital in terms of institutional dynamics, thus acting as one of the tools for the concept of institutional effectiveness of human capital development.