scholarly journals The impact of human capital development on the economic and social development of a country: empirical study

2015 ◽  
Vol 2 ◽  
pp. 174 ◽  
Author(s):  
Jeļena Lonska ◽  
Iveta Mietule
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
National Income ◽  
The Other ◽  
Human Capital Development ◽  
Global Competitiveness ◽  
Development Level ◽  
National Economic ◽  
Global Competitiveness Index ◽  
Capital Development

<p>Methodologically this research is based on the approach of many social scientists who argue that there is a bidirectional link: one runs from human capital development to economic growth and overall human development, when human capital helps increase national income and society development; the other runs from economic growth to human capital development, as the resources from national income are allocated to activities contributing to human capital development. The study aims to empirically verify the existence of this interaction by carrying out a correlation analysis of the human capital development level among 120 countries, assessed by the Human Capital Index, and the world's national economic development level, as demonstrated by the Global Competitiveness Index, as well as the level of development of the world's nations (societies) as demonstrated by the Human Development Index.</p>The result of the analysis empirically demonstrated a strong link between the human capital development with the country's economic (r = +0.944, p = 0.000) and national development (r = +0.882, p = 0.000) in total by all countries. Nevertheless, carrying out the correlation analysis by groups of countries, which are divided according to the calculation methodology of the Global Competitiveness Index, depending on their stage of economic development, the relationship between human capital development and nation’s development is becoming weaker in some groups of countries, with the remaining strong correlation between the development of human capital and the economic development of a state in all groups of countries. This means that only highly developed human capital can contribute to the country's economic development, and vice versa, national economic performance increases human capital development in the framework of effective development policy. On the other hand, not always a close interaction between nation’s development and human capital development can be faced, since a highly developed human capital means the quality of the developed human capital

scholarly journals Econometric models for estimating current and forecast values of the level of human capital development in the Russian economy

2020 ◽  
Vol 26 (1) ◽  
pp. 52-67
Author(s):  
Nina Baranova ◽  
Sergey Larin ◽  
Evgeny Khrustalyov
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Negative Impact ◽  
Import Substitution ◽  
Econometric Models ◽  
Practical Significance ◽  
Human Capital Development ◽  
Russian Economy ◽  
Capital Development ◽  
The Impact

Studies of factors of sustainable economic development in modern conditions are highly relevant for Russia due to the constant increase and tightening of sanctions restrictions. They have a negative impact on the introduction of innovative developments and economic growth, and reduce the competitiveness of Russian enterprises and their products on world markets. Human capital can become one of the key factors for countering sanctions restrictions, improving the efficiency of economic development and gaining additional competitive advantages for domestic enterprises and the economy as a whole. Assessing the impact of human capital on the sustainable development of the economy is difficult, since it is one of the specific forms of capital. When making appropriate measurements, economic scientists rely on a number of developed theoretical methods and practical tools that support them, which allow us to obtain fairly accurate values of the human capital development index (HDI) based on statistical data. First of all, this is the current UN methodology for calculating the HDI indicator, as well as modern software systems OriginPro-8.6 and Eviews-10.0, which have sufficiently advanced functionality for performing calculations. Russia today has all the necessary prerequisites and opportunities for progressive social and economic development. However, the formation of econometric models will help to timely determine the current and forecast values of the level of human capital development for individual enterprises, industries, and the country’s economy as a whole. This paper shows the practical application of the econometric tools of all the above approaches to obtain the calculated values of the HDI indicator for different time periods and different scenarios for the development of the Russian economy. The results obtained confirmed the high practical significance of the tools used and the acceptable accuracy of the calculations. However, the current and forecast values of the level of human capital development alone will not be able to ensure the effective development of the Russian economy. On the contrary, the effective use of human capital in the implementation of import substitution strategies and national projects will allow our country to become one of the world’s leading economic development countries.

scholarly journals Does human capital development matter in FDI location decisions? A case for Austria

2015 ◽  
Vol 5 (3) ◽  
pp. 26-35
Author(s):  
Kunofiwa Tsaurai
Keyword(s):  
Human Capital ◽  
Causal Relation ◽  
The Other ◽  
Location Decisions ◽  
Human Capital Development ◽  
Correction Model ◽  
Long Run ◽  
Causality Relationship ◽  
Capital Development ◽  
The Relationship

This paper investigates the relationship between human capital development and foreign direct investment (FDI). In particular, the direction of causality between these two variables is the main focus of this study. This study has been necessitated by the failure by many previous researchers to concur on the causal relationship between FDI and human capital development. Some authors argue that there is a uni-directional causality relationship running from FDI to human capital development whilst others are saying the causality runs the other way round from human capital development to FDI. The other group of authors says there is a bi-directional relationship between these two variables whilst the fourth and last group of authors maintains that there exist no causal relation at all between FDI and human capital development. Using the lagged error correction model (ECM), the study observed that FDI measured by FDI, net inflows (% of GDP) was Granger caused by human capital development (proxied by pupil-teacher ratio) both in the short and long run. However, the null hypothesis which says that FDI Granger caused human capital development was rejected both in the short and long run. The author therefore recommends the intensification of teacher-pupil ratio improvement programmes in order not only to increase FDI inflow but to ensure Austria benefits from that increased FDI inflow

The Evolutionary Role of Higher Education in Sustainable Development: Pandemic 2020–2021

2021 ◽  
Vol 2 (60) ◽  
Author(s):  
Gulbakhyt Dinzhanova ◽  
Massimo Bianchi
Keyword(s):  
Higher Education ◽  
Sustainable Development ◽  
Human Capital ◽  
Economic Development ◽  
Human Capital Development ◽  
Current State ◽  
Relational Mechanism ◽  
Capital Development ◽  
Evolutionary Role

This article investigates the role of higher education in the economic development of the country. The research aims to investigate the theoretical and methodological basis of the role of higher education and human capital in economic growth, evaluate the current state of higher education within pandemic COVID-19, and develop scientifically and applied recommendations to strengthen capacity and improve the competitiveness of human capital in the developing countries. An analysis of the existing researches and debates is made. We defined the state of higher education in Kazakhstan and considered the changes in education within the context of COVID-19. We made multiple correlations and regression analysis based on the education coverage index and GDP(mln KZT), where defined the moderate correlation between two variables. Statistical data is studied in a period from 2000 to 2019. This paper contributes to the literature by fulfilling a theory of human capital development in the knowledge economy, revealing the relational mechanism between higher education, sustainable development, and the economic boundary of this relationship. It also contributes to the further understanding of the role of higher education in economic development. This study result implies to strengthen capacity and improve the competitiveness of human capital, draft human capital development policy. Keywords: SDG; COVID-19, human capital, higher education

scholarly journals Application of the CORAL GMDH Algorithm for Modeling and Forecasting the National Income of Ukraine

2021 ◽  
pp. 35-50
Author(s):  
Yevgeniya A. Savchenko-Synyakova ◽  
◽  
Olena V. Tutova ◽  
Halyna A. Pidnebesna ◽  
◽  
...  
Keyword(s):  
Human Capital ◽  
Missing Data ◽  
National Income ◽  
Human Capital Development ◽  
Inductive Approach ◽  
Demographic Indicators ◽  
Modeling And Forecasting ◽  
Macroeconomic Indicators ◽  
Demographic Indices ◽  
Capital Development

CORAL GMDH is a method of the inductive approach. In this article it is used for modeling and forecasting socio-economic processes. Here the CORAL GMDH algorithm is applied to solve three problems: recovery of missing data, modeling of macroeconomic indicators, and forecasting the gross national income (GNI). Also, the CORAL GMDH algorithm is used to build models in the problem of modeling the dependence of GNI on socio-demographic indicators and develop recommendations on how the state can influence the level of human capital development in the country by influencing certain socio-demographic indices. The results of modeling for Ukraine, Belarus, and Poland are compared.

Human Capital Formation for the Fourth Industrial Revolution

2020 ◽  
pp. 205-228
Author(s):  
Paul Adjei Onyina
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Industrial Revolution ◽  
Human Capital Development ◽  
Representation Of Women ◽  
Fourth Industrial Revolution ◽  
The World ◽  
Role Of Women ◽  
Capital Development

This chapter focuses on the drivers of human capital development in the fourth industrial revolution by examining the role of women. It discusses the role of women in economic development since 570BC. Women are ignored in most important areas in society whereas men are found at the frontline. However, available empirical analyses suggest that when women are empowered, they are able to turn the tables in their favour. The chapter outlines development role played by selected women across time and uses data from studies to show poor representation of women on international bodies and parliamentary seats. Selected women that have led and continue to lead various countries all over the world are presented. This chapter argues that women are important stakeholders in economic freedom. The chapter suggests encouraging society and men in particular to help women become front line participants in the human capital development for the fourth industrial revolution.

scholarly journals A Critical Look at Ghana’s Human Capital Development Agenda: Where Do We Go From Here?

2019 ◽  
Vol 6 (2) ◽  
pp. 108-126
Author(s):  
Bill Buenar Puplampu
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Human Capital Development ◽  
Policy Makers ◽  
Development Agenda ◽  
Socio Economic Development ◽  
Capital Development ◽  
Implementation Gaps ◽  
Made In

This lecture explores the extent to which Ghana has paid sufficient strategic attention to the development of skills, competencies and capacities which would propel consistent socio-economic development. It argues that many initiatives and efforts have been made in the area of education. However these have been unfocused, disparate, not strategic and wasteful. Five policy and implementation gaps are identified and five recommendations are proffered for urgent consideration by policy makers.

Human Capital Formation for the Fourth Industrial Revolution

2021 ◽  
pp. 1613-1631
Author(s):  
Paul Adjei Onyina
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Industrial Revolution ◽  
Human Capital Development ◽  
Representation Of Women ◽  
Fourth Industrial Revolution ◽  
The World ◽  
Role Of Women ◽  
Capital Development

This chapter focuses on the drivers of human capital development in the fourth industrial revolution by examining the role of women. It discusses the role of women in economic development since 570BC. Women are ignored in most important areas in society whereas men are found at the frontline. However, available empirical analyses suggest that when women are empowered, they are able to turn the tables in their favour. The chapter outlines development role played by selected women across time and uses data from studies to show poor representation of women on international bodies and parliamentary seats. Selected women that have led and continue to lead various countries all over the world are presented. This chapter argues that women are important stakeholders in economic freedom. The chapter suggests encouraging society and men in particular to help women become front line participants in the human capital development for the fourth industrial revolution.

APPROACHES TO THE STATISTICAL ANALYSIS OF INVESTMENT IN HUMAN CAPITAL IN UKRAINE

2021 ◽  
Vol 296 (4) ◽  
pp. 73-77
Author(s):  
KATERYNA SIRENKO ◽  
◽  
MARHARYTA MAZUR ◽  
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Statistical Analysis ◽  
Social Protection ◽  
Living Standards ◽  
Health Care Education ◽  
Human Capital Development ◽  
Working Age ◽  
Capital Development ◽  
Investment Process

The article analyzes the development of the investment process in human capital in Ukraine. The approaches to the statistical analysis of investment in human capital in the country are considered in the article. Ukraine has low indicators of human capital development, including demographic characteristics and living standards indicators. The development of human capital is an actual task of economic development policy of the state. Therefore, the issue of statistical analysis and determination of prospects for the development of investment in human capital in Ukraine requires additional research. During the last years the position of Ukraine according to the international human development index is improving constantly. Despite the fact that the country has satisfied levels of education and life expectancy components of the index, but low values of gross national product per capita negatively influence on the growth of economic development of the country. Besides, the country’s population is steadily declining and is accompanied by rising mortality rates and declining in birth rates as well as the migration of working-age population. The approaches to determining the amount of investment in human capital, in particular in health care, education, physical development, social protection and social security have been also analyzed. It is established that investing in human capital development is not reflected in the growth of living standards and increase in demographic indicators in the country. The tendencies and prospects of human capital development in Ukraine are studied. The results of the study allow not only to assess the values and dynamics of investment in human capital, but also to identify conditions that constrain their growth, and to suggest directions for further ways to expand them.

scholarly journals Human Capital Development and Economic Development in Nigeria

2021 ◽  
Vol 4 (1) ◽  
pp. 32-44
Author(s):  
Raymond M. ◽  
Ekponaanuadum N.
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Least Square ◽  
Human Capital Development ◽  
Ordinary Least Square ◽  
Long Run ◽  
Misery Index ◽  
The World ◽  
Short Run ◽  
Capital Development

This paper set out to investigate the impact of human capital development on the drive to achieving economic development in Nigerian. It adopted the Ex-post facto research design as the variables-Misery Index, GEH and GEE cannot be manipulated as they have previously occurred. The study span for a period of 38 years which covered from 1981 – 2018. Secondary data sourced from the statistical bulletin of the Central Bank of Nigeria and the world development index of the World Bank was utilized for this study. The study employed the ordinary least square (OLS) method and the Error Correction Model estimation technique to examine the long run relationship and short run dynamics of the variables. The result of the Johansen co-integration test established the presence of long run relationship between misery index, pupil teacher ratio, government spending on education and health. The result of the ordinary least square revealed a negative and significant relationship between misery index and pupil teacher ratio in the long run. The results of the short run analysis revealed that current level of pupil teacher ratio impact on the misery index in Nigeria negatively and significantly. Informed by the discoveries, the study proposed the recruitment of more teachers to improve the current pupil teacher ratio in the country and also increase the budgetary allocation to the education sector.

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