REGIONAL DIFFERENTIATION OF RETURNS ON HUMAN CAPITAL: STATISTICAL MODELING OF PRODUCTION FUNCTIONS TAKING INTO ACCOUNT SPATIAL EFFECTS

The article examines the problem of regional differentiation of returns on human capital in the Russian Federation using spatial econometrics methods. The relevance of the study is due to the continuing high level of interregional inequality, with the gap between the most and least developed regions of Russia reaching thirty times the size of the gross regional product per capita, as well as the need to identify factors that determine the effectiveness of investments in human capital in various spatial and socio-economic conditions. The aim of the work is to quantify the impact of human capital on the output of regional economic systems, taking into account spatial interactions and the heterogeneity of this influence in the context of different groups of regions. The methodological base of the study includes an extended Cobb-Douglas production function and spatial econometrics models that allow for spatial autocorrelation of both the dependent variable and random errors. The empirical database is based on official data from the Federal State Statistics Service of Russia for eighty-three regions of the Russian Federation for the period from 2000 to 2022.

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