Human Capital Education And Health In Economic Development PdfBy Billy T. In and pdf 23.04.2021 at 00:15 5 min read
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- Human capital
- Human capital
- How Does Human Capital Affect Economic Growth in India? An Empirical Analysis
- Roles of Educational and Health Human Capital Accumulation in Economic Growth
Human capital is the stock of habits , knowledge , social and personality attributes including creativity embodied in the ability to perform labour so as to produce economic value. Human capital is unique and differs from any other capital. It is needed by companies to achieve goals, develop and remain innovative. Companies can invest in human capital, for example, through education and training, enabling improved levels of quality and production. Human capital theory is closely associated with the study of human resources management, as found in the practice of business administration and macroeconomics.
This study aims to determine the long-run impact of physical and human capital on GDP by using the panel data set of 13 developed and 11 developing countries over the period — Gross fixed capital formation is used as physical capital indicator while education expenditures and life expectancy at birth are used as human capital indicators. Panel DOLS and FMOLS panel cointegrated regression models are exploited to detect the magnitude and sign of the cointegration relationship and compare the effect of these physical and human capital variables according to these two different country groups. On the other hand, the impact of life expectancy at birth on GDP is determined as higher in the developing countries. The concept of human capital has begun to be evaluated as a component and determinant of economic growth, particularly after the Second World War. Before the war, the main target of theoretical discussions about human capital was not to define or to measure its contribution to economies [ 1 ]. Kiker [ 2 ] notes six reasons about the concept of human capital which are unrelated to economic growth that the evaluations had been mostly centered around until the WWII.
Skip to search form Skip to main content You are currently offline. Some features of the site may not work correctly. Hosoya Published Economics. Accumulation of human capital plays an essential role in creating economic growth. This article covers two types of human capital: educational and health human capital. Using standard OLS and IV estimations, we examine the growth effects that result from the accumulation of both types of capital. Also, our findings confirm that qualitative factors are important for economic growth, in addition to strictly monetary factors.
Skip to Main Content. A not-for-profit organization, IEEE is the world's largest technical professional organization dedicated to advancing technology for the benefit of humanity. Use of this web site signifies your agreement to the terms and conditions. Health human capital is an important part of it. First of all, this article studies the health human capital and economic growth.
How Does Human Capital Affect Economic Growth in India? An Empirical Analysis
The emotional, social and physical development of young children has a direct effect on their overall development and on the adult they will become. That is why understanding the need to invest in very young children is so important, so as to maximize their future well-being. While parents, along with some psychologists, sociologists and public-health experts, have long intuitively understood the importance of early childhood development ECD , it is really only over the last quarter-century or so that scientists, physicians and social scientists have come to recognize the crucial role played by ECD. And it is only very recently that ECD has taken its place in the economic literature beside schooling, on-the-job training, public health and informal learning.
An Empirical Analysis. The study attempts to examine the relationship between human capital and economic growth in India. The study utilizes annual time series data for the period to Real Gross Domestic Product is used as a proxy for economic prosperity and the Human Capital Index is taken as a proxy for the level of human capital.
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Roles of Educational and Health Human Capital Accumulation in Economic Growth
Human capital is the stock of habits , knowledge , social and personality attributes including creativity embodied in the ability to perform labour so as to produce economic value. Human capital is unique and differs from any other capital. It is needed by companies to achieve goals, develop and remain innovative.
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Corresponding Author: Tariq Mahmood Ali, FUUAST School of Economic Sciences, Federal Urdu University of Arts,. Science and Technology, Islamabad, Pakistan.
The Contribution of Education to Economic Growth
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