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Human Capital Investment Is a Continuous Proposition: A Study of North East African States

  • Ghirmai Kefela
  • Ravinder Rena

    ()

    (Eritrea Institute of Technology– Mai Nefhi, Asmara, The State of Eritrea
    Indus Institute of Higher Education (IIHE) karachi Pakistan,)

Human development is the beginning of economic growth. The main purpose of wealth should be to enrich people’s lives, to broaden people’s choices and to enable every citizen, every child, every woman and every man to reach her or his full potential. Yet, as the experience of many countries has shown, economic growth does not automatically translate into human development. Human capital refers to the stock of productive skills and technical knowledge embodied in country’s population. A well-educated, innovative and skilled population is the foundation as well as the goal of development. It is also the surest way to eradicate poverty. The education and training systems of all the nations jeopardizes the future of millions of children and of the nation itself. This paper analyses the importance of human being resources in general and economic development in North East African States (NEAS) in particular. The study focuses that the Human capital as both the goal and the engine of economic growth, because 40 to 60 per cent of growth rates in per capita GDP can be attributed to investment in human capital and the increased productivity that results. Sustainable development cannot occur in the absence of human resource. It is also concluded that major portion of means goes for middle man and upper classed families.

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File URL: http://indus.edu.pk/RePEc/iih/journl/4-HumanCapitalInvestmentIsaContinuousPropositionAStudyofNorthEastAfricanStates-GhirmaiKefelaandRavinderRena.PDF
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Article provided by Department of Business Administration in its journal Indus Journal of Management & Social Science (IJMSS).

Volume (Year): 2 (2008)
Issue (Month): 1 (June)
Pages: 50-65

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Handle: RePEc:iih:journl:v:2:y:2008:i:1:p:50-65
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  1. Desmond Lachman & Kenneth Bercuson, 1992. "Economic Policies for a New South Africa," IMF Occasional Papers 91, International Monetary Fund.
  2. repec:pra:mprapa:10314 is not listed on IDEAS
  3. George Psacharopoulos & Harry Anthony Patrinos, 2004. "Returns to investment in education: a further update," Education Economics, Taylor & Francis Journals, vol. 12(2), pages 111-134.
  4. repec:pra:mprapa:10393 is not listed on IDEAS
  5. Psacharopoulos, George, 1993. "Returns to investment in education : a global update," Policy Research Working Paper Series 1067, The World Bank.
  6. repec:pra:mprapa:10580 is not listed on IDEAS
  7. Thomas, Vinod & Wang, Yan & Fan, Xibo, 2001. "Measuring education inequality - Gini coefficients of education," Policy Research Working Paper Series 2525, The World Bank.
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