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 techniques - OLS, 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 rest of the world (ROW). The results show that income per capita has priority over basic need expenditure in development strategies of all regions despite quantitatively different. However, the importance of basic need expenditure cannot be denied in terms of capabilities development (improvement in health) that ultimately increases productivity.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 13999.
Date of creation: 05 Aug 2008
Date of revision: Dec 2008
Human capital; Physical capital; Income per capita; Basic needs Expenditures; Human Development;
Other versions of this item:
- Rizwana Siddiqui, 2009. "Human Capital vs. Physical Capital : A Cross-Country Analysis of Human Development Strategies," Labor Economics Working Papers 22982, East Asian Bureau of Economic Research.
- 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.
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-03-14 (All new papers)
- NEP-DEV-2009-03-14 (Development)
- NEP-HRM-2009-03-14 (Human Capital & Human Resource Management)
- NEP-SEA-2009-03-14 (South East Asia)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Ravallion, Martin, 1997. "Good and bad growth: The human development reports," World Development, Elsevier, vol. 25(5), pages 631-638, May.
- 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.
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