Andriukhin V.Y., Arzhaev F.I. The human capital of Kyrgyzstan: economic and social approach

Abstract

In contemporary research, human capital is frequently examined in terms of its positive and negative effects on the economy and ways to promote its growth. However, issues related to the risk of a “youth bubble” forming and its impact on economic growth have been largely unexplored. The study’s focus is on the human capital in Kyrgyzstan, aiming to demonstrate significant imbalances in human capital development in a country with a young population, such as Kyrgyzstan. To address the research objectives, methods such as statistical analysis of demographic data and a comparative analysis of human capital elements and characteristics in Kyrgyzstan were employed. The key findings of the study provide evidence of the existence of a “youth bubble” in the country, which could be addressed through either a significant shift in demographic policy or active collaboration with external actors, such as the Russian Federation. Based on statistical analysis, a system for monitoring key demographic indicators is proposed to allow state bodies in Kyrgyzstan to manage the situation in youth policy and its impact on human capital. The novelty of this research lies in applying the theory of human capital to a developing country like Kyrgyzstan with a young population. This approach was previously not considered due to the commonly held belief that a combination of factors such as this would have a positive impact on economic development and human capital. However, this article argues that for Kyrgyzstan, young population presents a challenge to sustainability rather than an opportunity for economic growth.