Introduction: Human Capital and Economic Development
Introduction: Human Capital and Economic Development
index of human welfare, which incorporates income, education and health, shows that Africa’s level of
‘human development’ is the lowest of any region in the world. In this paper we will frequently compare
Africa with South Asia. While Africa’s level of human development is lower than that of South Asia, its
per capita income is higher. Africa’s poor economic performance has been most marked in its growth
rate which has been half that of South Asia. As Africa has found since 1980, slow economic growth
severely limits the ability of governments and households to fund further investments in health and
education. Low investments in human capital may impinge on already low growth rates of income. Such
interrelations might be thought to imply a vicious circle of development, but this should not be overstated.
Poor countries have considerable discretion over how much to invest in health and education. Since
Independence, Africa has achieved a rapid growth of some aspects of human capital - particularly in
the expansion of education - despite starting from a low level of income. The expansion of the human
capital stock has not been matched by a commensurate rise in physical capital. The result has been low
growth of incomes and low returns to the educational investment.
This paper provides an overview of Africa’s achievements in the formation of human capital, and
its impact on economic growth and welfare. Human capital, economic growth and welfare are closely
interrelated. Section 2 provides an assessment of Africa’s human development in the context of other
developing regions. Section 3 turns to the central issue of how to promote economic growth in Africa
and the role of human capital in that process. Section 4 presents evidence on the linkages between
education and health outcomes, while section 5 provides some concluding remarks.
Human Capital and Economic Development
Simon Appleton and Francis Teal
Introduction Human Capital and Economic Development - To learn more about this author, visit African Development Bank's Website.
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Health and education are both components of human capital and contributors to human welfare. One
index of human welfare, which incorporates income, education and health, shows that Africa’s level of
‘human development’ is the lowest of any region in the world. In this paper we will frequently compare
Africa with South Asia. While Africa’s level of human development is lower than that of South Asia, its
per capita income is higher. Africa’s poor economic performance has been most marked in its growth
rate which has been half that of South Asia. As Africa has found since 1980, slow economic growth
severely limits the ability of governments and households to fund further investments in health and
education. Low investments in human capital may impinge on already low growth rates of income. Such
interrelations might be thought to imply a vicious circle of development, but this should not be overstated.
Poor countries have considerable discretion over how much to invest in health and education. Since
Independence, Africa has achieved a rapid growth of some aspects of human capital - particularly in
the expansion of education - despite starting from a low level of income. The expansion of the human
capital stock has not been matched by a commensurate rise in physical capital. The result has been low
growth of incomes and low returns to the educational investment.
This paper provides an overview of Africa’s achievements in the formation of human capital, and
its impact on economic growth and welfare. Human capital, economic growth and welfare are closely
interrelated. Section 2 provides an assessment of Africa’s human development in the context of other
developing regions. Section 3 turns to the central issue of how to promote economic growth in Africa
and the role of human capital in that process. Section 4 presents evidence on the linkages between
education and health outcomes, while section 5 provides some concluding remarks.
Human Capital and Economic Development
Simon Appleton and Francis Teal
Introduction Human Capital and Economic Development - To learn more about this author, visit African Development Bank's Website.
Like this article? Share it with your friends
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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