Human Capital in the Strategic Development of the Transport System of Russia. The Case of JSC Russian Railways

¹ Faculty of Economics, Department of Economic and Mathematical modeling, Peoples’ Friendship University of Russia (RUDN University), 6, Miklukho-Maklaya Str, 117198, Moscow, Russia
² Laboratory of simulation modeling of the interaction of economic objects, CEMI RAS (Central Economics and Mathematics Institute of Russian Academy of Science), 47, Nakhimovsky prospect, 117418, Moscow, Russia

^* Corresponding author: baranova_nm@pfur.ru

Abstract

The transport system plays a significant part in the modern life. Tasks that arise in various sectors of the national economy can be solved quickly and efficiently thanks to well-functioning logistics. One of the largest transport companies in the world is JSC Russian Railways (JSC RZD), Russia. According to the results of 2019, the company ranked first in the world in terms of freight turnover (2.6 trillion tonne-kilometres), third in terms of cargo carriage volume (1.3 billion tons) and the miles open (85.6 thousand km), fourth in terms of passenger turnover (134.5 billion passenger-kilometres). It is obvious that such high indicators of the company were achieved thanks to a modern scientific and technical base, design and construction capacities, international cooperation, and, most importantly, highly qualified specialists at all levels. Positive human capital (HC) significantly affects the efficient use of all types of resources of the company, determines the competitiveness and the company value, its leadership in sustainable development. Therefore, the study of the human factor in the development of the transport system in Russia is relevant. The study was carried out using the annual reports of JSC Russian Railways from 2002 to 2019. The econometric (linear and exponential) models were built on the basis of statistical data. The linear model has been proven to provide more accurate predictions.