Assessment of the Effectiveness and Progress of Human Capital Development Policy in Latvia

A study titled “Assessment of the Effectiveness and Progress of Human Capital Development Policy in Latvia” was developed on behalf of the Ministry of Economics.

Within the framework of the study, researchers conducted an analysis of the theoretical aspects of human capital development; developed a monitoring system for tracking the progress of human capital development policy, identifying data sources and their availability; analyzed the target indicators and outcome indicators of the strategic directions outlined in the draft “Human Capital Development Strategy for 2024–2027” (hereinafter – the Strategy), and validated their alignment with the overarching goal of the Strategy. Based on the analysis, proposals were made to improve the indicator system, and a measurement framework (indicator system) was developed to assess the effectiveness/impact progress of the Strategy’s key policy measures. Taking into account the developed monitoring system, proposals and recommendations were provided for policy-making. It should be noted that the human capital development monitoring system in Latvia is being created in accordance with the Strategy, with a particular focus on the development of the future labor market.

The results of the study were presented on November 25, 2024, at a seminar at the Ministry of Economics, which was attended by representatives of various ministries and business organizations.

The study consists of four chapters. Chapter 1 analyzes the theoretical aspects of human capital development. Chapter 2 describes various approaches to monitoring the effectiveness and progress of human capital development policy. Chapter 3 analyzes data sources and their availability, while Chapter 4 provides an evaluation of the draft “Human Capital Development Strategy for Latvia 2024–2027” and proposes a methodology for its monitoring. The study concludes with findings and recommendations.

Research Project Deliverable

The study is available here (in Latvian):

Cilvēkkapitāla attīstības politikas efektivitātes un progresa novērtēšana Latvijā (PDF)