Paths to Success: The Relationship Between Human Development and Economic Growth

This paper explores the two-way relationship between economic growth (EG) and human development (HD). We develop panel data strategies to estimate the strength of these relationships and find that HD plays an essential role in determining growth trajectories (our measure of sustained growth). Not on...

Full description

Saved in:
Bibliographic Details
Published inWorld development Vol. 39; no. 4; pp. 506 - 522
Main Authors Suri, Tavneet, Boozer, Michael A., Ranis, Gustav, Stewart, Frances
Format Journal Article
LanguageEnglish
Published Oxford Elsevier Ltd 01.04.2011
Elsevier
Pergamon Press Inc
SeriesWorld Development
Subjects
Correlation
Economic Development
Economic growth
Economic models
Endogenous growth
Estimating techniques
Estimation
Human capital
Human development
human development economic growth threshold models
Panel data
Studies
Success
threshold models
Well Being
O57
threshold models
O15
C23
human development
economic growth
Online AccessGet full text

Cover

More Information
Summary:This paper explores the two-way relationship between economic growth (EG) and human development (HD). We develop panel data strategies to estimate the strength of these relationships and find that HD plays an essential role in determining growth trajectories (our measure of sustained growth). Not only is HD a final product in the sense that it measures basic human well-being but it is also a critical input into EG. Our findings illustrate the empirical relevance of endogenous growth, and are consistent with threshold effect models. Our results imply that successful policy requires an early focus on HD, not only because of its direct impact but also because of its feedback effect on sustaining EG.
Bibliography:ObjectType-Article-1
SourceType-Scholarly Journals-1
ObjectType-Feature-2
content type line 23
ObjectType-Article-2
ObjectType-Feature-1
ISSN:0305-750X
1873-5991
DOI:10.1016/j.worlddev.2010.08.020