Modernization of Regional Processes Based on the Definition of the Human Potential

Abstract

The article presents the tools identified by the authors that contribute to improving the population life level and quality through an assessment of the human potential index. According to the authors of the study, the Russian economy requires large-scale innovative transformations at all levels of the hierarchy. The authors conducted a rating score of fifteen countries of the world for 2017–2018 year on three key indicators affecting the human development index: education level, level and quality of life, gross national income level. The countries were divided into three groups: countries with a high development rating (1–20), countries with an average development rating (25–70 place), countries with a low development rating (100–140 place). Foreign experience has been studied and the index for five large Russian regions has been calculated based on the international methodology of K. Schwab. Key factors and their interrelation with the parameters of regional development have been identified. Practical recommendations for the Russian regions to reach a sustainable innovative development through increasing the business activity of the population have been given. The developed tools will allow the traditional model of socio-economic development of the Russian economy to be changed into an innovative one. The calculations of a geo-information study based on the natural logarithm of the human potential index conducted in the Russian regions have been highlighted and presented. The article is of interest to specialists in the field of regional and municipal management, for researchers, lecturers, graduate students, undergraduates and students economic and managerial universities.