EVALUATION OF THE IMPACT OF EDUCATION AND SCIENCE ON THE FORMATION OF HUMAN CAPITAL

Abstract

This study addresses the evaluation of the impact of education and science on the formation of human capital, both globally and within the Republic of Kazakhstan. The dynamics of the Human Development Index (HDI) in the Republic of Kazakhstan are analyzed in comparison with global trends and indicators of countries in the Organisation for Economic Co-operation and Development (OECD). The research findings indicate a stable, moderate, level of human development in Kazakhstan, surpassing global benchmarks but trailing behind OECD nations. Special attention is devoted to the overall trend of decreasing human development, influenced by the global pandemic, particularly affecting the education and science sectors. The country’s education system is scrutinized for its impact on societal intellectual potential, labor productivity, and scientific advancement. Contradictions in the structure of education expenditures are highlighted, emphasizing criticism of the higher education system and the level of scientific development in the country. The study also includes an analysis of domestic expenditures on research and development (R&D), providing recommendations to enhance human capital development through investments in education and science.