Human Capital vs. Physical Capital : A Cross-Country Analysis of Human Development Strategies
AbstractThis study estimates a small simultaneous equation model using panel data from sixty-four countries for the years 1996 and 2004. The model is estimated by various techniquesOLS, TSLS, dummy variable approach introducing variation at the regional level, and fixed and random effect approaches introducing variation at the individual country level. The objective is to identify the importance of basic needs in human development strategies in Asia, Africa, and the rest of the world (ROW). The results show that income per capita has priority over basic needs expenditure in development strategies of all regions despite being quantitatively different. However, the importance of basic needs expenditure cannot be denied in terms of capabilities development (improvement in health) that ultimately increases productivity.
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Bibliographic InfoPaper provided by East Asian Bureau of Economic Research in its series Labor Economics Working Papers with number 22982.
Date of creation: Jan 2009
Date of revision:
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Postal: JG Crawford Building #13, Asia Pacific School of Economics and Government, Australian National University, ACT 0200
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More information through EDIRC
Human Capital; Physical Capital; Income Per Capita; Basic Needs Expenditures; Human Development;
Other versions of this item:
- Siddiqui, Rizwana, 2008. "Human Capital vs Physical Capital: A cross country analysis of human development strategies," MPRA Paper 13999, University Library of Munich, Germany, revised Dec 2008.
- Rizwana Siddiqui, 2009. "Human Capital vs. Physical Capital: A Cross-Country Analysis of Human Development Strategies," PIDE-Working Papers 2009:51, Pakistan Institute of Development Economics.
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- P24 - Economic Systems - - Socialist Systems and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
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- Sudhir Anand & Martin Ravallion, 1993. "Human Development in Poor Countries: On the Role of Private Incomes and Public Services," Journal of Economic Perspectives, American Economic Association, vol. 7(1), pages 133-150, Winter.
- Ravallion, Martin, 1997. "Good and bad growth: The human development reports," World Development, Elsevier, vol. 25(5), pages 631-638, May.
- Lucia Hanmer & Robert Lensink & Howard White, 2003. "Infant and child mortality in developing countries: Analysing the data for Robust determinants," Journal of Development Studies, Taylor & Francis Journals, vol. 40(1), pages 101-118.
- Richard J. Szal, 1980. "Operationalising the Concept of Basic Needs," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 19(3), pages 237-246.
- Goldstein, Joshua S., 1985. "Basic human needs: The plateau curve," World Development, Elsevier, vol. 13(5), pages 595-609, May.
- Hicks, Norman L., 1979. "Growth vs basic needs: Is there a trade-off?," World Development, Elsevier, vol. 7(11-12), pages 985-994.
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