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Dynamic Links between the Economy and Human Development

Author

Listed:
  • Gustav Ranis
  • Frances Stewart

Abstract

This paper empirically confirms the significance of various links in each of two chains over time: from economic growth (EG) to human development (HD), including EG itself, income distribution, the social expenditure ratio and female education; from HD to EG, including HD itself, along with the investment ratio. Our most important conclusion concerns sequencing over time. EG, which is an important input into HD improvement, is itself not sustainable without such improvement, either prior or simultaneous. Therefore, traditional policy advice, which argues that HD improvements must wait until EG expansion makes it affordable, is likely to be in error.

Suggested Citation

  • Gustav Ranis & Frances Stewart, 2005. "Dynamic Links between the Economy and Human Development," Working Papers 8, United Nations, Department of Economics and Social Affairs.
    • Handle: RePEc:une:wpaper:8
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    File URL: http://www.un.org/esa/desa/papers/2005/wp8_2005.pdf
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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