Human Capital Education And Health In Economic Development Pdf

human capital education and health in economic development pdf

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The Long-Term Impact of Human Capital Investment on GDP: A Panel Cointegrated Regression Analysis

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. The original idea of human capital can be traced back at least to Adam Smith in the 18th century.

Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. If you continue browsing the site, you agree to the use of cookies on this website. See our User Agreement and Privacy Policy. See our Privacy Policy and User Agreement for details. Published on Feb 3, A brief study on the economic development of health and education in India in the present scenario. It talks about joint investment in both the sectors considering their rate of return, while dealing with questions like why increasing income is not sufficient?

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.

The Long-Term Impact of Human Capital Investment on GDP: A Panel Cointegrated Regression Analysis

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.

Human capital

It seems that you're in Germany. We have a dedicated site for Germany. This edited collection explores the links between human capital both in the form of health and in the form of education , demographic change, and economic growth. Using empirical as well as theoretical perspectives, the authors investigate several important issues in the context of human capital, namely population ageing, inequality, public policy, and long-term economic development. Ultimately, they demonstrate that the accumulation of human capital is of crucial importance to long-run economic growth.

Gene M. Grossman, G.

Economics Research International

JavaScript is disabled for your browser. Some features of this site may not work without it. Date Author Grant, Catherine. Metadata Show full item record. Abstract There are many reasons why education is important, this report focuses on its contribution to economic growth and outcomes.

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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. Successful ECD depends on the interaction of a number of factors.

How Does Human Capital Affect Economic Growth in India? An Empirical Analysis

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.

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