scholarly journals Developmental trajectories of nations based on equity, historic responsibility, and planetary boundaries

2021 ◽  
Author(s):  
Soumyajit Bhar ◽  
Chirag Dhara
Keyword(s):  
Economic Growth ◽  
Human Development ◽  
Developmental Trajectories ◽  
Sri Lankan ◽  
Planetary Boundaries ◽  
Environmental Pressures ◽  
Development Models ◽  
Current Trends ◽  
Sustainability Policy ◽  
Global Population

A major challenge for humanity today is to articulate a developmental vision that can achieve a reasonable quality of life for the global population of over 7 billion without breaching planetary boundaries. The Human Development Index (HDI) (UNDP 2010), which externalizes the planetary pressures of economic growth, promotes misguided development models since countries scoring highest on HDI have transgressed multiple planetary boundaries (O’Neill et al. 2018). The question is whether templates of development exist among the fraternity of nations that may be sustainably scaled to the global population. To study this question, we construct a new conceptual framework foregrounding the principles of equity, historic responsibility, and planetary boundaries. We propose a new environmentally-driven measure of human development – called the eHDI – that internalizes the climate and ecological pressures of economic growth. Analysis of the developmental trajectories of countries over the past three decades based on the eHDI reveals profound insights. We identify Panama, Costa Rica, Albania, Sri Lanka, and Georgia as the top examplar models that can provide reasonably high levels of human development to the entire global population with low environmental pressures. However, a conservative extrapolation of current trends indicates that only the Sri Lankan and Costa Rican trajectories may remain (largely) within planetary boundaries by 2050. Our results, therefore, foreground these two countries as the ones that merit the most focus in sustainability policy studies.

The Relationship between Human Development and Economic Growth

2018 ◽  
Author(s):  
Frances Stewart ◽  
Gustav Ranis ◽  
Emma Samman
Keyword(s):  
Economic Growth ◽  
Human Development ◽  
Human Development Index ◽  
Econometric Analysis ◽  
Complementary Relationship ◽  
Development Index ◽  
The Relationship ◽  
Intervening Variables

This chapter explores the interactions between economic growth and human development, as measured by the Human Development Index, theoretically and empirically. Drawing on many studies it explores the links in two chains, from economic growth to human development, and from human development to growth. Econometric analysis establishes strong links between economic growth and human development, and intervening variables influencing the strength of the chains. Because of the complementary relationship, putting emphasis on economic growth alone is not a long-term viable strategy, as growth is likely to be impeded by failure on human development. The chapter classifies country performance in four ways: virtuous cycles where both growth and human development are successful; vicious cycles where both are weak; and lopsided ones where the economy is strong but human development is weak, or conversely ones where human development is strong but the economy is weak.

Human Destiny Is a Choice

2018 ◽  
Keyword(s):  
Economic Growth ◽  
Cold War ◽  
Human Development ◽  
Global Governance ◽  
World Order ◽  
Military Spending ◽  
The Cold War ◽  
Global World ◽  
First Time ◽  
Human Destiny

In this chapter, Haq outlines his optimistic outlook for global world order. For him the end of the Cold War had opened up many more choices for the global community. For the first time global military spending was seen to be declining every year. He saw potential to reallocate ODA aid funds, which were previously tilted in favour of cold war allies. For Haq the challenge is to link economic growth as the means to human development as an objective. He stresses on the need to reform institutions of global governance to translate globalization into opportunities for people.

Public Financing of Human Development in India: A Review

2021 ◽  
Vol 15 (1) ◽  
pp. 62-81
Author(s):  
Sacchidananda Mukherjee ◽  
Shivani Badola
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Human Development ◽  
Public Investment ◽  
Public Financing ◽  
Economic Activities ◽  
Economic Opportunities ◽  
Goods And Services ◽  
Public Transfers ◽  
Distribution Of Resources

Role of public financing of human development (HD) is inevitable, especially for developing countries like India where access to resources and economic opportunities are not equitably distributed among people. Governments aim to achieve equity in distribution of resources through allocative and redistributive policies whereas macroeconomic stabilisation policies aim to achieve higher economic growth and stability in the price level. Expenditure policies of the governments envisage in delivering larger public goods and services to enable people to take part in economic activities by investing in human capital and infrastructure developments. Progressivity of the tax system helps in achieving equity by redistribution of resources among people. Being merit goods, expenditures on education, health, and poverty eradication make it a case for public investment which empowers people to improve human capital. The benefit of universal economic participation is expected to contribute in larger mobilisation of public resources over time. Lack of economic opportunities and earning a respectable income may increase dependence on public transfers which may reduce fiscal space of the governments to finance programmes to promote overall economic growth. The objective of this article is to review existing studies on public financing of HD in India and highlight emerging challenges.

scholarly journals Are International Indices Good Predictors of Economic Growth? Panel Data and Cluster Analysis for European Union Countries

2021 ◽  
Vol 13 (11) ◽  
pp. 6003
Author(s):  
Manuel Carlos Nogueira ◽  
Mara Madaleno
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Panel Data ◽  
Human Development ◽  
Empirical Studies ◽  
The European Union ◽  
Global Competitiveness ◽  
Environmental Performance Index ◽  
European Union Countries ◽  
And Cluster Analysis

Every year, news about the publication of rankings and scores of important international indexes are highlighted, with some of the most prestigious being the Global Competitiveness Index (GCI), the Human Development Index (HDI), the Ease of Doing Business (EDB), the Environmental Performance Index (EPI) and the Global Entrepreneurship (GEI). A country’s progression in these indices is associated with economic growth, especially since several empirical studies have found evidence to reinforce these beliefs, the indices having been built based on the scientific literature on economic growth. Building a database on these indices for European Union countries between 2007 and 2017 and using panel data methodologies and then 2SLS (Two-Stage Least Squares) to solve the problem of endogeneity, we verify empirically through panel data estimates, what is the relationship between the mentioned indices and the European Union countries’ economic growth for the period. However, as the European Union is made up of diverse countries with different economic and social realities, we divided the countries into six clusters and made an individual interpretation for each one. We found that human development and competitiveness play an important role in economic growth, and entrepreneurship also impacts this growth. Regarding income distribution, applying the Gini index, we found that only human development mitigates inequalities.

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