Human Capital Impact for Sustainable Economic Growth

Currently, the economy of Kazakhstan is in the process of global changes in the economic and technological structures. The situation in the labor market and educational services calls for changes in the content of education in relation to the modern requirements. Discloses a digital transformation sector: the importance of the balance of the strategy and tactics of business and society, issues involving the human capital and society in modernizing the management of the economy in terms of globalization. In the article the human capital is considered as the driving force behind the development of innovation-based economy, capable of responding to the challenges of the world civilization. Without the human capital development of a country can neither achieve sustainable economic growth, nor to create a contingent of workers who will be willing to take require retraining of workers of the future places or to compete effectively in the global economy. According to the authors the important role it is necessary to take digital technologies. It is necessary to completely review the contents of all levels of education and training in the IT-industry, in the field of organization of management through the development of digital skills. Currently, the economy of the Republic of Kazakhstan is at the stage of global changes in the economic and technological structures. The situation on the labor market and educational services necessitates changes in the content of education in relation to modern requirements. The sector of digital transformation is revealed: the importance of balancing the strategy and tactics of business and society development, the issues of involving human capital and society in managing the modernization of the economy in the context of globalization.The formation of a multicomponent information and educational environment, information and digital technologies make it possible to build completely new communications, as well as new relationships among people, the restructuring of the entire economy and society, so that our life is better and “smarter”. The modern economy is called the economy of effective human capital, which emphasizes its main role in the development and growth of the economy. Human capital is seen as the driving force behind the development of an innovative economy that can respond to the challenges of world civilization.It makes up more than half of the national wealth of each of the developing countries and the main intensive factor in economic growth and social development. The level of skills demanded by the labor market is changing rapidly, which creates both new opportunities and new risks.Without the development of human capital, countries will not be able to achieve sustainable economic growth, nor create a contingent of workers who will be ready to occupy advanced jobs for the future, or compete effectively in the global economic arena.

Download Full-text

Enhancing Human Capital Investment - Key to Unlock China's Economic Plight of Unbalanced Development

Advanced Materials Research ◽

10.4028/www.scientific.net/amr.347-353.2745 ◽

2011 ◽

Vol 347-353 ◽

pp. 2745-2748

Author(s):

Yuan Zhang

Keyword(s):

Economic Growth ◽

Human Capital ◽

Capital Investment ◽

Human Capital Investment ◽

Physical Capital ◽

Investment Strategy ◽

Capital Shortage ◽

Investment Structure ◽

Sustainable Economic Growth ◽

The Relationship

In recent years, it is very important for China to maintain the strong and sustainable economic growth, and we believe enhancing human capital investment is the key. According to the statistics, China's current human capital investment has fallen into the low-level trap, which means that the economic growth heavily depends on labor-intensive and resource-driven investment, and the relationship between human and physical capital investment becomes imbalanced. In addition, the coexistence of human capital shortage and employment pressure, the mismatch between human capital investment structure and talent demand, and insufficient human capital investment caused by unfair income distribution are becoming more and more serious. We advise a re-examination of our human capital investment strategy as the main policy to solve the problems.

Download Full-text

Development for a better life

Journal of Economic Development Environment and People ◽

10.26458/jedep.v4i3.118 ◽

2015 ◽

Vol 4 (3) ◽

pp. 4

Author(s):

Manuela Epure

Keyword(s):

Economic Growth ◽

Human Capital ◽

Human Development ◽

World Bank ◽

Global Economy ◽

Health Care Services ◽

Global Development ◽

Care Services ◽

Capital Development ◽

Sustainable Economic Growth

Today, humanity is facing various challenges when it comes to the development level in different countries or regions. The global economy is bouncing back from a serious crisis, yet still struggling with the unpredictable reminiscences of the crisis. Restarting the economic growth is vital for the global development. But when it comes to “development”, are we sure what it really means with respect to different countries? World Bank experts define development through a set of indicators of wealth which reflect mainly the quantity of resources, resource allocation, the effect of production and consumption on people’s environment and the like. Different countries have different visions on how to increase the national wealth, therefore the interest in setting development policies may vary from region to region, from country to country. Development is also related directly to people's quality of life: access to education and health care services, employment opportunities, availability of clean air and safe drinking water, and the threat of crime and so on. A sustainable economic growth must be nourished by the fruits of human development such as improvements in human capital along with opportunities for its efficient use: more and better jobs, better conditions for encouraging new and innovative business and greater democracy at all levels of decision‐making[1]. The interdependency between sustainable economic growth and human development is more than obvious, complex and diverse relationships are constantly set, the prerequisites for economic growth or human development are established, and the list is still open. Investing in human capital development is one of the conditions that enable economic growth.[1] SoubottinaT.P., Sheram K.‐ Beyond Economic Growth –Meeting the Challenges of Global Development, World Bank Learning Resources Series, USA, 2000 http://www.worldbank.org/depweb/beyond/beyondco/beg_00.pdf

Download Full-text

Critical Analysis of Governance, Economic Freedom, and Human Capital Implications on Sustainable Economic Growth: Evidence from Sub-Saharan Africa

International Journal of Social Science and Economics Invention ◽

10.23958/ijssei/vol07-i08/312 ◽

2021 ◽

Vol 7 (08) ◽

Author(s):

Yusuf Ayotunde Ayodeji

Keyword(s):

Economic Growth ◽

Human Capital ◽

Causal Relationship ◽

Economic Freedom ◽

Sub Saharan Africa ◽

Pooled Mean Group ◽

Long Run ◽

Short Run ◽

Sub Saharan ◽

Sustainable Economic Growth

In the recent time, the attention of scholars have shifted towards deeper understanding of factors that drives the achievement of sustainable economic growth, but yet factors such as governance, economic freedom, and human capital have not been exhaustively investigated, especially within the context of Sub-Saharan Africa (SSA). Thus, this study investigates the implications of governance, economic freedom, and human capital on the sustainability of economic growth in the SSA, usingpanel data that spanned between 1996 and 2018, and employed a Pooled Mean Group (PMG) estimator for the analysis. This study found governance, economic, and human capital to have a positive and significant causal relationship with economic growth in the long-run, while only economic freedom was found to have a negative and significant causal relationship with economic growth in the short-run. In addition, this study found that in case of disequilibrium, the model has a convergent speed of adjustment of about 10.8%. The study implications were discussed in the study.

Download Full-text

Investment in human capital as the basis for the country’s economic growth

E3S Web of Conferences ◽

10.1051/e3sconf/202016409046 ◽

2020 ◽

Vol 164 ◽

pp. 09046

Author(s):

Ekaterina Nezhnikova

Keyword(s):

Economic Growth ◽

Human Capital ◽

The State ◽

Role Of The State ◽

Modern Economic Growth ◽

Multiplier Effect ◽

Key Factor ◽

Modern Economic ◽

Sustainable Economic Growth

A key factor in modern economic growth is investment in people and in the development of human capital, as evidenced by the experience of many countries. Investments in human capital create conditions for sustainable economic growth, constant adaptation of the socio-economic structure to new areas of scientific and technological progress. In addition, investments in people form demand in many adjacent sectors, thereby causing a significant multiplier effect. Currently, the role of the state in this area is quite large. The role of the state is especially great in the most important spheres of the formation of human capital - in the field of education, health care and the allocation of research.

Download Full-text

Social Security and Sustainable Economic Growth: Based on the Perspective of Human Capital

Sustainability ◽

10.3390/su11030662 ◽

2019 ◽

Vol 11 (3) ◽

pp. 662 ◽

Cited By ~ 7

Author(s):

Ming Zhang ◽

Xiaorong Zou ◽

Long Sha

Keyword(s):

Economic Growth ◽

Human Capital ◽

Panel Data ◽

Social Security ◽

Threshold Model ◽

Threshold Effect ◽

Dynamic Panel Data ◽

Dynamic Panel ◽

Sustainable Economic Growth ◽

The Impact

China’s social security expenditure has rapidly grown during the past decade, and concerns about the impact of social security on productivity and sustained economic growth have attracted attention. Based on Chinese provincial panel data over the period 2007–2016, a threshold model analysis found that the impact of social security on productivity has a “double threshold” on human capital. Using dynamic panel data models and system General Moment Method estimators also found the existence of this threshold effect: When the human capital level is low or high, social security is favorable for sustained economic growth. However, if the human capital level is at the intermediate level, the function of social security is weak. The main conclusions were still valid after we examined the robustness of our results with several methods.

Download Full-text

NATIONAL WEALTH MANAGEMENT FOR SUSTAINABLE ECONOMIC GROWTH

Vestnik of Polotsk State University. Part D. Economic and legal sciences ◽

10.52928/2070-1632-2021-59-14-2-8 ◽

2022 ◽

pp. 2-8

Author(s):

N. Vegera ◽

A. Vegera

Keyword(s):

Economic Growth ◽

Human Capital ◽

World Bank ◽

The State ◽

National Wealth ◽

The World Bank ◽

The World ◽

The Republic ◽

Cis Countries ◽

Sustainable Economic Growth

The substantiations for the use of the indicator of national wealth, including produced, natural and human capital, as a tool for managing the sustainability of the economic growth of the state are given. Considering that at present the measurement of the National Wealth in the Republic of Belarus is limited to fixed assets, the approaches of the World Bank to assessing the National Wealth by countries of the world are considered. The amount and structure of the national wealth of the Republic of Belarus in the assessment of the World Bank based on data for 2018 is presented. A comparative analysis of the share of produced, natural and human capital in the Republic of Belarus, CIS countries, regions of the world and countries with different income levels is carried out. The approaches to the management of national wealth to ensure sustainable development are considered, allowing to diversify the portfolio of assets and ensure balanced investment in various assets to ensure greater sustainability of the state.

Download Full-text

The Long Term Impact of Health on Economic Growth in Pakistan

The Pakistan Development Review ◽

10.30541/v47i4iipp.487-500 ◽

2008 ◽

Vol 47 (4II) ◽

pp. 487-500 ◽

Cited By ~ 19

Author(s):

Naeem Akram ◽

Ihtsham Ul Haq Padda ◽

Mohammad Khan

Keyword(s):

Economic Growth ◽

Human Capital ◽

Technical Change ◽

Physical Capital ◽

Per Capita ◽

Long Term Impact ◽

Sustainable Economic Growth ◽

The Impact

Human capital plays pivotal role for sustainable economic Growth. As different growth theories suggest the role of human capital as a significant for growth process. The concept of human capital in economic literature defined broadly by including education, health, training, migration, and other investments that enhance an individual’s productivity. However, the growth economists that have incorporated human capital in the growth studies, paid greater attention on analysing the impact of education on economic growth, while ignoring the role of health human capital. It is only in very recent times that studies have started looking at health and tried to estimate the relationship between health status and economic growth. There exists a two-way relationship between improved health and economic growth. Health and other forms of human and physical capital increases the per capita GDP by increasing productivity of existing resources coupled with resource accumulation and technical change. Furthermore, some part of this increased income is spent on investment in human capital, which results in further per capita growth. According to Fogel (1994), approximately one third of GDP of Britain between 1790 and 1980 is the outcome of improvements in health especially improvement in nutrition, public health, and medical care facilities and these improved health facilities should be considered as labour enhancing technical change.

Download Full-text