Human capital development: Comparative analysis of BRICs

The goal of this article is to conduct macrolevel analysis of human capital (HC) development strategies, pursued by four countries commonly referred to as BRICs (Brazil, Russia, India, and China). This analysis is based on comparisons of macro indices of human capital and innovativeness of the economy and a review of related academic literature and government publications. The study results suggest that in terms of present human capital capacity Russia and Brazil are ahead of China and India. However, during the last decade the governments of the latter two countries have initiated impressive national programs of HC development, which include significant investment and targeted government regulation in such areas as primary and secondary education, vocational education and training, and higher education, especially in science and technology fields. Russia and Brazil have targeted programs in some of the above areas, but lack comprehensive longterm strategies, covering all the above areas and coordinating effort of various agencies and constituencies. It is recommended to expand the scope of analysis to include other fast growing developing economies (e.g. Mexico, Indonesia, and Turkey). The article provides, for the first time, a comparison of human capital development indices and strategies of the four largest developing economies. The original feature of the article is a combination of the analysis of macrolevel indices with an indepth analysis of policy documents and academic literature.