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Human development index impact on economic growth

Author

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  • Pham Tan Hoa

    (Kien Tuong Town, Long An Province,, Vietnam)

  • Le Thanh Liem

    (People’s Committees in Ho Chi Minh City, Vietnam)

  • Nguyen Kim Phuoc

    (Ho Chi Minh City Open University, Vietnam)

Abstract

Several studies have explored the determinants of economic growth among countries. The research generally refers to factors such as physical capital/capital, labor, technology, infrastructure, policy institutions, the openness of the economy... However, previous studies rarely mention the human development index (HDI). This study reviewed the human development index (HDI) and other factors affecting the economic growth of nations. The research based on the theory of Solow (1956), Chiu, Hsu, & Wang (2006) and Ferreira-Lopes Sequeira (2011). Reseach data from the data collected by the World Bank to analyze samples in 30 countries during the period (1999-2014). Table of data regression results table (Pooled, FEM and REM) show that HDI has a positive impact on economic growth of countries. Based on the study results, the recommendations are proposed in order to promote stability growth in countries and to ensure the harmony economic growth between and the goals of social development.

Suggested Citation

  • Pham Tan Hoa & Le Thanh Liem & Nguyen Kim Phuoc, 2016. "Human development index impact on economic growth," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 6(1), pages 3-13.
    • Handle: RePEc:bjw:econen:v:6:y:2016:i:1:p:3-13
    DOI: 10.46223/HCMCOUJS.econ.en.6.1.106.2016
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    References listed on IDEAS

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    1. Ranis, Gustav & Stewart, Frances, 2006. "Successful Transition towards a Virtuous Cycle of Human Development and Economic Growth: Country Studies," Center Discussion Papers 28396, Yale University, Economic Growth Center.
    2. Suri, Tavneet & Boozer, Michael A. & Ranis, Gustav & Stewart, Frances, 2011. "Paths to Success: The Relationship Between Human Development and Economic Growth," World Development, Elsevier, vol. 39(4), pages 506-522, April.
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    7. Abhijit Sharma & Theodore Panagiotidis, 2005. "An Analysis of Exports and Growth in India: Cointegration and Causality Evidence (1971–2001)," Review of Development Economics, Wiley Blackwell, vol. 9(2), pages 232-248, May.
    8. Gustav Ranis, 2004. "Human Development and Economic Growth," Working Papers 887, Economic Growth Center, Yale University.
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