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This paper discusses different economists' views on economic development and growth in developing countries. It presents findings from comparative studies and experts' perspectives on key factors that influence economic growth and how growth impacts households. While dependency theorists argue that growth can occur without development initiatives when countries primarily supply resources to wealthy nations, others believe growth enhances development by increasing incomes spent on education and health. Economic growth and development are mutually reinforcing, with growth improving human development which in turn supports further economic development through increased expenditures. Rising incomes also generate resources for improved social services like healthcare, education, and clean water, which directly promote social life. The paper concludes that economic development and growth are directly linked to enhancing human capital development.
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An Analysis of Impact of Human Capital Investment on Demographic Characterist...
The demographic features of the 2011census of India have revealed that India is the second largest country next to China in terms of working age population (25 - 50 years) in the world. It has been known that the country’s economic growth is based on both natural and human resources available in the country. Still, there are more avenues for effective and efficient use of labour-productivity in this age group. It is well conceived by the theory that the human resources are the biggest contributor of economic growth which is augmented by a process of human capital formation. Of late, health and education have been viewed as the two dimensions of human capital which are treated as an indicator of social welfare. The variations in health status of different age groups in market and non-market labour productivities are still prevalent in many developing countries. The low health status persons contribute less to human capital formation than of others (Behrman and Deolalikar, 1988). According to them, “Health is a state of complete physical, mental and social wellbeing and not merely the absence of disease or infirmity”. Therefore, it cannot be purchased by the consumers in the market as we do for other goods and services in the market. On the other hand, it can be produced by spending time upon health improving activities, as well as, purchasing medical inputs (Grossman M., 1972). Behrman has pointed out that there is an inverse relationship between low health status and human capital formation. Therefore, the economists have focused their attention to study the determinants and impact of health status on economic growth. The present study attempts to analyse the human capital investment and its impact of socio- economic status on human resources (HR) in Chennai district, Tamil Nadu. To aid our research effort, an extensive literature has also been reviewed in an attempt to answer various queries raised. On the basis of the statement of problems, the research questionnaires have been canvassed among the respondents to obtain the information. This study is based on databases obtained both from primary and secondary sources. The information through primary sources has been collected with the help of interview schedule. The secondary data on Human Capital Investment and the Impact of Socio- Economic Status on Human Resources have been collected from various sources in Chennai City. In the health sector, this study focuses its attention to reporting illness, amount spent, days lost. Some of the opted econometric techniques have been used to examine the objectives of the study. Our empirical strategy has applied the following tools of analysis. The statistical tools like OLS, PROBIT and LOGIT techniques are used to analyze the indicator ‘selfreported illnesses. And, ‘Health expenditure’ and ‘number of days lost’ are estimated by OLS and TOBIT techniques, besides by applying correlation, regression analysis.
Meaning of Development Over Time
The meaning of development has changed over time. Originally, development referred primarily to economic growth, measured by increases in GDP and per capita income. In the post-World War II era, development took on a broader definition as a multi-dimensional process involving social and economic reorganization. More recently, development is understood as improving living standards and access to resources while also increasing individual freedoms and promoting sustainability.
Midterm-Orn Nareth ID 129015.docx
Economic development aims to improve standards of living through job creation, innovation, wealth creation, and quality of life. It includes activities like infrastructure development, job creation and business retention programs, and initiatives to create jobs or grow the economy through laws and regulations. The main purposes of economic development are to increase access to necessities, raise living standards, and expand economic and social choices for individuals and nations. Cambodia faces challenges from expected graduation from LDC status, natural resource limits, vulnerability to shocks, and lack of governance capacity, as well as new issues from automation and digitalization. Comparative economic development analyzes how different economic systems work together to create outcomes and identifies similarities, differences, and solutions between developed and developing nations.
Economic Growth Of America Essay
The economic growth of America can be traced back to early settlers farming fertile soil to produce cash crops like tobacco and cotton. As the population grew, the government enacted the Homestead Act to provide farmland, and farmers thrived on the Great Plains. However, in the late 1920s the stock market crash impacted rural America severely. Schools struggled to pay teachers and many families lived in poor conditions without electricity or running water. In response, President Roosevelt introduced the Rural Electrification Act to help modernize farms.
Economic growth & economic development, underdevelopment
The document discusses concepts of economic development and underdevelopment. It defines economic development as achieving sustainable growth in income per capita to expand output faster than population growth. However, this definition fails to consider issues like poverty, inequality, and unemployment. Development is also defined sociologically as industrialization, economic growth, and improved living standards. Countries that have not achieved these objectives are considered underdeveloped. Economic development encompasses both quantitative and qualitative progress, including improvements in quality of life, health, education, and other social indicators measured by indexes like the Human Development Index.
Sustainable happiness connecting waste and wellbeing - Report from the Happin...
Sustainable happiness connecting waste and wellbeing - Report from the Happin...The Happiness Alliance - home of the Happiness Index
In a new report from the Happiness Research Institute - a Danish think tank exploring why some societies are happier than others. The report "Sustainable Happiness - why waste prevention may lead to an increase in quality of life?" explores the link.
Happiness Research Institute is at: www.happinessresearchinstitute.com/The Impacts of Health and Education Components of Human Resources Development...
IOSR Journal of Economics and Finance (IOSR-JEF) discourages theoretical articles that are limited to axiomatics or that discuss minor variations of familiar models. Similarly, IOSR-JEF has little interest in empirical papers that do not explain the model's theoretical foundations or that exhausts themselves in applying a new or established technique (such as cointegration) to another data set without providing very good reasons why this research is important.
The Influence of Economic Growth on Poverty, Investment, and Human Developmen...
The Influence of Economic Growth on Poverty, Investment, and Human Developmen...Suwandi, Dr. SE.,MSi
This paper discusses about the economic growth that has a direct impact on Human Development Index (HDI) and indirect one on the increase of investment absorption and decrease of poverty. Besides, we can know that economic growth has a direct impact on the increase of investment, as well as it directly affects the decrease of poverty level by using partial test quantitative analysis. To increase the economic growth and reduce poverty as well as to increase HDI, these are what to do (a) revitalizing the agriculture to help main sector of Fak Fak district (agriculture); (b) giving modal such as: banking soft loan with easy terms and revolving fund for the right target in the form of natura (cows, sheeps, etc.) that can accelerate the increase of economic; (c) regional government facilitates the linkage and partnership program with “win-win solution” concept.Justification of hrd
This document discusses human resource development in OIC countries. It finds that while OIC countries have made progress in expanding knowledge, improving health, and raising living standards, they still need to increase productivity and efficiency of human capital development. The key challenges facing OIC countries are relatively high infant mortality rates, low life expectancy, and limited access to education and healthcare for many citizens. Successful human resource development requires allocating resources effectively within and between sectors, both domestically and through supplemental foreign resources, in order to implement strategies that develop people's capabilities.
DEVELOPMENT ECONOMICS BASIC CONCEPTS AND SIMPLE DISCUSSION
Development economics is a branch of economics that deals with reducing poverty and encouraging prosperity in low-income countries. It examines factors like health, education, markets, and policies that impact economic growth and development, which is a long-term process of not just economic indicators improving but also standards of living. Development economics provides theories to understand developing economies and help improve lives globally.
C031202018026
International Journal of Humanities and Social Science Invention (IJHSSI) is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
9789812872470 c2 (2)
This chapter reviews prominent theories of economic development from early views to contemporary models. It discusses the evolution of development goals from a narrow focus on growth to broader conceptions of quality of life and sustainability. Key classical theories described include linear stages of growth models, structural change models, and international dependence models. Contemporary theories addressed include new growth theory and coordination failure theory. The chapter concludes by examining implications of changes in development thinking for studying challenges facing developing nations.
9789812872470 c2
This chapter reviews prominent theories of economic development from early views to contemporary models. It discusses the evolution of development goals from a narrow focus on GDP growth to broader objectives incorporating quality of life, sustainability, and the UN's Millennium Development Goals. Classical theories described stages of growth and structural change as countries shift labor from agriculture to industry. Contemporary theories include new growth theory and theories of coordination failure.
9789812872470 c2 (1)
This chapter reviews prominent theories of economic development by beginning with early views on prosperity. It then examines four classical theory clusters: linear growth stages; structural change; international dependence; and neoclassical counter-revolution models. Contemporary theories like new growth and coordination failure are also reviewed. The chapter concludes by discussing how development goals have evolved from a sole focus on growth to incorporate quality of life and sustainability concerns.
Publication ph-aghion-croissance-et-sante
1) The document discusses the relationship between health and economic growth, drawing on both the Lucas and Nelson-Phelps approaches. It proposes a theoretical framework that encompasses both the level and accumulation of health as factors that can impact growth.
2) Empirically, using cross-country regressions and instruments from previous studies, the document finds that both the initial level and rate of improvement in life expectancy have a significantly positive impact on GDP growth.
3) Looking specifically at OECD countries, the document finds evidence that only reductions in mortality below age 40 (not overall mortality improvements) generate productivity gains that explain the positive health-growth relationship.
Similar to Sample work.APA Style (20)
Role of Business Schools in Orienting Students towards Building Happy Economi...
Role of Business Schools in Orienting Students towards Building Happy Economi...
An Analysis of Impact of Human Capital Investment on Demographic Characterist...
An Analysis of Impact of Human Capital Investment on Demographic Characterist...
Economic growth & economic development, underdevelopment
Economic growth & economic development, underdevelopment
Sustainable happiness connecting waste and wellbeing - Report from the Happin...
Sustainable happiness connecting waste and wellbeing - Report from the Happin...
The Impacts of Health and Education Components of Human Resources Development...
The Impacts of Health and Education Components of Human Resources Development...
The Influence of Economic Growth on Poverty, Investment, and Human Developmen...
The Influence of Economic Growth on Poverty, Investment, and Human Developmen...
DEVELOPMENT ECONOMICS BASIC CONCEPTS AND SIMPLE DISCUSSION
DEVELOPMENT ECONOMICS BASIC CONCEPTS AND SIMPLE DISCUSSION
Sample work.APA Style
- 1. Runninghead: ECONOMICDEVELOPMENT ANDGROWTH 1 Economic Development and Growth in Developing Countries Alyn Johnson Universal college, Texas
- 2. ECONOMICDEVELOPMENT ANDGROWTH 2 Abstract This paper defines different economists’ views for the economic development and growth regarding developing countries. This paper contains a concise and deeper view of experts related to economic initiatives. It also compares how the economic development is beneficial for human development and what measures need to be taken in this regards. Method This paper presents result of different comparative studies taken from accurate resources. Expert’s views help to understand the key factors which are important to focus for the economic growth and development in developing countries. It assists to comprehend that how economic growth influences on the life of household at root level. The point of views of different theorists is also added in this paper. Discussion Dependency theorists say that developing countries have occasionally experienced economic growth with slight or no economic development initiatives; for example, when they have functioned primarily as resource suppliers to well-off developed countries. On the other hand, it is said that, growth enhances development because increase in income gets spent on human development such as education and health (Hansen, 2009). In accordance with Camic et al., economic growth and development is a mutual association. In proportion to them, the first step contains economic growth promoting human development, while economic enlargement is expected to direct families and individuals to exercise their sharp profits to increase expenditures, which in turn support human development. Simultaneously, the expenditure and expenses, health, education, and communications systems enhance and contribute to economic development.
- 3. ECONOMICDEVELOPMENT ANDGROWTH 3 Besides, mounting personal incomes and economic growth also produces supplementary resources that can be beneficial to get better social services (for instance healthcare, pure drinking water, education etc.). Briefly, the connection between human and economic development can be clarified in three ways. Firstly, boost in average income direct to improvement in health. Secondly, it is assumed that social outcomes can only be enhanced by dipping income poverty. Lastly, social outcomes can also be enhanced with crucial services such as education, healthcare, and pure drinking water (Schneiberg, 2005). Conclusion The economists and experts consider that economic development and growth is directly connected to the growth in human capital development. Although, increase in household income also enhance the expenditure of household but it assist the economic growth and development (Burns, 2007). For the economic development it is important to focus on education, health and pure drinking water for the masses which directly promote social life in developing countries.
- 4. ECONOMICDEVELOPMENT ANDGROWTH 4 References Camic, C., Gorski, P. S., & Trubek, D. M. (2005). Max Weber’s economy and society: A critical companion. Stanford, CA: Stanford University Press. Caldas, J. C., Costa, A. N., & Burns, T. R. (2007). Rethinking economics: The potential contribution of the classics. Cambridge Journal of Economics, 31, 25–41. Schneiberg, M. (2005). ‘What’s on the Path? Path Dependence, Organizational Diversity and the Problem of Institutional Change in the US Economy, 1900-1950’, Socio-Economic Review, 5, 47-80. Hansen, F. (2009). Minimum living. Workforce Management, 88(9), 14-15.