Human capital development is an essential indicator in judging the growth and development of a country. How important is it?
Dear Otekunrin
What exactly do you wanna know? A metric for this mensurement? Do you wanna compaire a number of countries? Do you wanna compaire human capital with something else?
I wanna help, but your question is not clear for me...
Dear Livia ,
Thank you for your contribution, the question asked was to further elucidate on the concept of human capital development as one of the key indicators of economic development. Comparing the human development indices (HDI) in countries especially in the continents to know those continents/ countries having high HDI indices and those with low ones. Why this differences and what can be done to increase these indices.
Thank you
The human capital of a country is the lifeblood that sustains its economic growth, it is the engine that constantly keeps its agencies and institutions in the spirits of sustainable development and tbe heart that keeps the country's economy alive not just for the present but eternally.
Dickson Adom
Dear Dickson,
Really appreciate your contributions to the discuss.
Olutosin
You need to distinguish between specific and general HC Olutosin. It is popular in development to assume that specific skills development, such as business planning and financial management, correlate with economic development but this is contested. There is good evidence that it is general HC (general knowledge and the stuff you learn at school) that is more beneficial.
Human capital is reguarded as the most important think in our societies as it enables societies to work toguether and faced challenges including natural events. For example, in vanuatu ,2015 ,there was a cyclone namely cyclone pam which almost detroy every island in vanuatu therefore most countries have to help hand in terms of human capital (money) to help people that have been destroy by the cyclone.
Thanks to the following RG experts;
Dr. Ben Levin,
Dr. David L. Poole,
Dr. George Peter Lajemoli for your wonderful contributions to the discussion.
Realmente el impacto es mucho menor a lo usualmente afirmado. Le sugiero buscar lo que al respecto ha escrito Chang Ha Joon.
Thank you for your contribution dear Dr. Pascual. You can translate your contribution to English for those that may not understand the language.
Olutosin
Actually the impact is much smaller than usually stated. I suggest you look up what Chang Ha Joon has written about it.
Sir, you can please provide link concerning Chang Ha Joon's write up. Thank you.
Olutosin
This is my opinion and would greatly appreciate if you can validate this hypothesis in your research:
The human capital of a country is used well, when the educated people of this country (instead of going abroad for a better lifestyle) use their acquired knowledge and creativity to generate high impact innovations for their regions, valuable innovations that cover the last link of the supply chain, using its available resources with a sustainable approach; that in the end, we will have economic growth in a more cooperative society of continuous cultural improvements.
Daniela Heredia
Dear Dr. Daniela Heredia Hernandez, I really agreed with your submission on this discussion. Thanks for sharing your view on this.
Olutosin
Hi Olutosin,
You might want to take a look at my PhD thesis (Entrepreneurship and SME Sector Development in Post-genocide Rwanda: a Search for the 'Missing Middle'), available on-line at the SOAS Library. The second chapter has a section on human capital and the need to differentiate between general HC and specific HC. The development world usually focusses on the latter, especially financial literacy and business plan writing, when in fact it is general human capital that has the greater effect. My own research into entrepreneurship found for instance that there is little point in trying to teach business writing skills to aspiring entrepreneurs, as successful entrepreneurs don't write business plans. They just dive in and develop their businesses iteratively.
There are plenty of bibliographic reference in the thesis that might help you. You need to go to the SOAS Research Online section of the Library - if you have any trouble locating thesis let me know and I'll send you a link to it.
Good Luck!
Dave
Thank you so much Dr. David L Poole for this invaluable information. Will definitely check the site.
Olutosin
Human Capital development is essential for the growth and development of a country. it doesnt only mean getting education, it also means acquiring skills that if used it will generate profit. it also leads to more technology which increases productivity and quality of goods and services thereby generating more employment and reducing poverty in an economy
Many thanks for your valuable contribution dear Dr. Rachael Ololade Apata.
Olutosin
I am late! You already have a lot of significant contributions. Good work!
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