THE INFLUENCE OF PSYCHOLOGICAL AND CULTURAL FACTORS ON THE DEVELOPMENT OF HUMAN CAPITAL IN THE DIGITAL ECONOMY

Abstract

The research examines the impact of psychological and cultural factors on human capital development in the context of the digital economy in Bosnia and Herzegovina. While access to infrastructure and accessibility of information and communication technologies (ICT) remain key, the research findings highlight that attitudes, perceptions, and cultural factors significantly shape digital adoption and skills acquisition. The survey results show that barriers such as lack of confidence, fear of technology, and limited perceived needs are significant obstacles to full participation in the digital economy, even when basic infrastructure is present. Regression analysis confirmed that psychological and cultural factors have a statistically significant impact on human capital development, explaining a significant part of the variance in outcomes. The presented results highlight that digital transformation cannot be reduced to a purely technical challenge but must also address the human and cultural dimensions of technology use. Policies that combine infrastructure investments with programs designed to build trust, build and change perceptions, and align digital tools with local cultural practices will be most effective in reducing the digital divide and strengthening human capital for future growth. The research sample consisted of 1547 citizens (n = 1547) from Bosnia and Herzegovina, selected using the snowball sampling method. The basic motive for the realization of this research is the fact that there are no relevant studies in Bosnia and Herzegovina that focus on the influence of psychological and cultural factors on human capital in the digital economy.