What is it about?
This paper examines the role of human capital and institutions in driving economic growth across selected Asian countries. It argues that while human capital (skills, education, health) is important, its impact on growth is heavily dependent on the quality of institutions. Strong institutions (e.g., governance, rule of law) create an environment where investments in human capital translate into real economic gains. The study uses data from five Asian countries and shows that improvements in institutional quality are crucial for maximizing the benefits of human capital development on economic growth.
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Why is it important?
This paper provides timely insights into the role of institutions in the human capital-growth nexus, particularly in developing Asian countries. The findings suggest that policymakers need to prioritize institutional reforms alongside human capital investments to achieve sustainable economic growth. This research could significantly impact how developing countries allocate resources and structure reforms to boost economic growth.
Perspectives
As a researcher with a keen interest in the dynamics of economic growth, I undertook this study to explore the complexities of human capital’s impact on economic development, particularly in the context of developing Asian countries. My work highlights the often-overlooked role of institutional quality and suggests that human capital alone is insufficient without strong institutions. This research could serve as a foundation for further studies exploring the nuances of institutional reforms in other regions.
Aribah Aslam
Read the Original
This page is a summary of: The hotly debate of human capital and economic growth: why institutions may matter?, Quality & Quantity, April 2020, Springer Science + Business Media,
DOI: 10.1007/s11135-020-00989-5.
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