After the emergence of endogenous growth theory, the role of human capital along with physical capital is considered to be imperative in promoting economic growth. The government social sector spending, mainly on education and health, contributes in forming human capital and promotes economic growth. This study examines the impact of health and education provisions on economic growth of emerging Asian economies, including Bangladesh, China, India, Indonesia, Malaysia, Pakistan, Philippine, and Thailand. Using the data set for 1995-2018, the fixed effects (FE) and the random effect (RE) methods of panel data estimation are employed. Both methods reveal that the health and education support the human capital formation and stimulate economic growth.
This study investigates how the development of human capital is related to economic growth in Nigeria from 1980 to 2015. Data were sourced from the Central Bank of Nigeria and the National Bureau of Statistics. The study employed Augmented Dickey-Fuller (ADF) to estimate the relationship among the variables used in this study which revealed that there is a positive long-run relationship among public expenditure on education and health, total school enrolment, gross capital formation, employment rate, life expectancy rate and economic growth. The study recommended that the government should put in place the required education and training policy that would guarantee quality schooling for different level of education. Government should also commit more funds to health sector to enhance human capital formation. It was also recommended there should be more pragmatic means to develop human capabilities.
AbstractThis article addresses the relationship between two policies that are to ensure wealth and economic growth: family policy and educational policy. Current demographic changes in Germany are widely expected to have a negative impact on economic growth. One way to tackle this problem is to devise a family policy that takes into account current demographic developments and encourages young people to set up a family of their own. A second major determinant of future wealth is the formation of human capital. This article analyzes measures relating to both family policy and human capital formation. Particular attention is devoted to links and synergetic effects between the two policy variables.
This paper assesses the possible contribution of short term vocational skill tested graduates and labour migration in foreign employment and remittances to Nepalese economy. An attempt has also been made to assess the role of effective skill testing system that can be provided even in local level as for equal accessibility to all skilled workforces throughout the country. Producing skill tested graduates is known to be a process of human capital formation that is equally benefitted to self and society. Due to easy access of government policy, Nepalese youths are working in international labour market and at a time when the country's major economic indicators are not favorable, the remittances have played a vital role in national economic growth. Though remittances earning is a boon to the economy, the facilities are inadequate to back up the increasing trend of migration. Inadequate knowledge on skill testing system and lack of skill training and poor opportunities to involve in trade specific work are some of bottlenecks to Nepalese youths. This paper suggests that formulation and effective implementation of short term vocational skill testing system in local level is the need of today so that most of foreign labour migrants can grab semi-skilled employment opportunities through specific vocational skill tested certification. The government needs to play a proactive role to promote foreign employment by inducting and adhering to the policy of socio-economic development and human capital formation. Replicating the status and impact of short term vocational skill tested graduates and migrated labour in foreign employment, state mechanism has to be endorsed in our national context for development and promotion of skill testing mechanism in local level and regularization of foreign employment. In such a situation, majority of youths could get opportunities to take skill tested certificate that can encourage them to become a vocational skill and trade occupation specific. Such types of work specification could ultimately increase working efficiency and productivity of each workforce and economic prosperity of the country.DOI: http://dx.doi.org/10.3126/jtd.v1i0.13091 Journal of Training and Development Vol.1 2015: 54-61
Based on Statistics Indonesia (BPS), Indonesia will face a demographic bonus era during 2020-2035. That implies that the number of productive-age population will be higher than elderly peopleand children (dependents). This phenomenon offers an opportunity due to a lower dependencyburden. However, the situation could be catastrophic if the government is not ready to equip theproductive age population with necessary skills. The objective of this study is to determine whetheror not higher spending on education has positive influence on human capital formation in BengkuluProvince. The research used panel data analysis of ten regions in Bengkulu Province for the 2010-2014 periods. Research results showed that spending on education does not have significant impacton human capital development, while women empowerment and infrastructure have positive effecton human capital. Our results imply that more spending on education does not matter if it is notsupported by quality infrastructure that makes education facilities accessible.
Human Capital Formation and Economic Growth in Emerging Asia: Empirical Evidence Using Panel Data