Human capital and its place in the classification system of factors, which have an influence on innovation activity of the country

Abstract

The influence of innovation activity on the rate of economic growth is increasing in the world. On the world market the products of intellectual effort have higher value compared to other sides of economic activity. There are several factors of innovation activity which can slow it down or speed up its growth rate. But up to this date there has not been defined the unique systematized understanding of these factors. Also the role of human capital has not been defined on innovation activity. In the given paper the absence of the unified structured understanding of the set of factors, which affect the innovation activity of organizations and country as a whole, was studied. Existing methods for analyzing the factors, that affect the development of innovation processes of the industry, were analyzed. Internal and external factors, which affect positively or negatively the acceptance of innovations, were reviewed. Based on the conducted analysis, the authors proposed the system for classification of factors based on 7 features, which is versatile and can be applied for any region, regardless of their specialization, size or geographical location. In addition the place and role of human capital in that system is defined.