The role of human capital in the development of the innovative economy

Summary

Success in the economy is related to the presence of innovative potential and the conditions for its implementation. In the article, the need for an effective economic view of human activity for the development of an innovative economy is taken as a basis. A comparative analysis was conducted with the aim of determining Azerbaijan's human capital position in the international world. The changes in the position of our country over the years are related to the factors affecting the rating indicators. Implementation of systematic planning to improve the weak points of indicators on ratings, and to obtain high quantitative indicators in general, remains relevant. At the same time, conducting broad-based research on weak indicators, concretely determining the causes and applying state-level solution mechanisms are of particular importance in increasing Azerbaijan's position in international reports. The analysis of the reforms carried out in our country shows that thanks to the correct state policy aimed at the management of human capital, favorable conditions for the creation and development of an innovative economy have been created in the Republic of Azerbaijan.