Analysis of Indicators and Factors for Assessing Human Capital Development

Abstract

Human capital plays a pivotal role in ensuring economic growth and social well-being by integrating components such as education, healthcare, labor productivity, and innovation. In the context of Uzbekistan, significant reforms and policy actions have been undertaken to strengthen these sectors, including national strategies and legislative frameworks supporting education and vocational training, healthcare reform, and labor market development. Despite these efforts, disparities in education quality, healthcare access (especially in rural areas), and labor market efficiency remain, hindering the full realization of human capital potential. This study aims to assess the development of human capital in Uzbekistan using internationally recognized indicators such as the Human Development Index (HDI), Global Competitiveness Index, and empirical comparisons with global models. Findings reveal that Uzbekistan’s HDI stands at 0.727 (2022), positioning it among medium development countries. The quality of education and healthcare remains uneven, while labor productivity and innovation activity show potential for improvement. Comparative analysis  highlights successful strategies from countries like South Korea, Finland, and Singapore. The study integrates a multi-method approach including SWOT analysis, international benchmarking, and empirical surveys to deliver a comprehensive evaluation of Uzbekistan’s human capital framework. To foster sustainable economic growth, Uzbekistan must intensify investments in education, healthcare, and digital technologies, while aligning workforce development with market demands. Human capital enhancement should remain a cornerstone of national development strategies.