Human capital development in a creative economy

Abstract

The industrial economy is gradually disappearing. It is replaced by a creative economy, the basis of which is creative human capital. The study aims to define creative human capital’s value in an economy based on intellectual activity. Methods. The research used general scientific methods: the method of comparison, statistical analysis, assessment of dynamic structural shifts, as well as index and analytical methods. The economic research methods were also used in this work; the regression analysis was carried out by the economic-statistical method. Economic and mathematical modeling defined the influence of creative economy indicators on the GDP level per capita. Results. As a research result, the meaning of the category “human capital development in the creative economy” is established, and its basic elements are defined. It was determined what role creative economy human capital plays. Creative sector value in countries’ development was also described in the study. The analysis of the number and structure of the innovative sphere enterprises has allowed defining the features of the new economy structure type in the European countries. The study established the relative share of the population working in the creative industry. Characteristics of human capital development in European countries are presented in illustrations. Interaction between human capital and the creative economy has been defined by carrying out the regression analysis. According to the study results, the main components of the evolution and protection of human capital in a fast-growing branch of the world economy – the creative economy – have been established.