Human Development & Economic Growth: A Global Perspective [Kõva köide]

Bhullar (economics, Guru Nanak College, India) conducts an empirical analysis of the cause and effect relationship between human capital and economic growth on countries of differing levels of development, with a particular focus on the impact of education and health. Studying the period 1980 to 2005, with more detailed analysis undertaken for the years 1985, 1995, and 2005 and separate analyses conducted for developing countries, high income countries, upper middle income countries, lower middle income countries, and all countries taken together on the basis of the World Bank's grouping of countries in relation to 32 variables of economic growth and human development, he concludes that "human capital formation plays the pivotal role in the process of economic development." Distributed in North America by ISBS. Annotation ©2013 Book News, Inc., Portland, OR (booknews.com)

Human development plays a pivotal role in the process of economic development. A country's potential to grow is dependent, not only on physical resources, but also on human resources. Human capital formation is both qualitative and quantitative, in the sense that it involves attainment of the skills, education, and experience, as well as enhancing the number of individuals who possess these qualities. The modern concept of development is much more than the increase in income and output. Rather, it is a multi-dimensional process which involves the reorganization and reorientation of the whole economic and social system. It not only involves radical changes in institutional, social, and administrative structures, but also in popular attitudes, customs, and beliefs. Economic development in modern times is understood, inter alia, in terms of reduction of poverty, inequality, and unemployment in a growing economy. Human capital formation, thus, is central to any development strategy. This book contains a comprehensive study on the inter-relationship between human development and economic growth, covering most of the countries of the world, categorized as: developing countries, high income countries, upper middle income countries, lower middle income countries, low income countries, and all countries taken together.