Human Capital Education And Health In Economic Development PdfBy Clairb In and pdf 16.04.2021 at 05:44 9 min read
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- Human Capital and Economic Growth
- The Long-Term Impact of Human Capital Investment on GDP: A Panel Cointegrated Regression Analysis
- Human capital
Human Capital and 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. The original idea of human capital can be traced back at least to Adam Smith in the 18th century. As a result of his conceptualization and modeling work using Human Capital as a key factor, the Nobel Prize for Economics was jointly awarded to Paul Romer , who founded the modern innovation-driven approach to understanding economic growth.
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.
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 ].
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.
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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
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.
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