The High-Performing Asian Economies (HPAEs) have been unusually successful compared to large parts of Asia (including India), Africa and Latin America at matching high growth rates with significantly declining income inequalities. This paper looks at India and the HPAEs from a human capital development perspective, and it seeks to explain the reasons for the possible causes of these different patterns of growth rates and income inequalities. The paper proposes a new Human Capital Index, and argues that the notion of fair wage is the key factor linking human capital development to high growth rates and declining inequalities. Copyright 2010, Oxford University Press.
Cambridge Journal of Regions, Economy and Society is edited by Susan Christopherson, Betsy Donald, Harry Garretsen, Meric Gertler, Amy Glasmeier, Mia Gray, Michael Kitson, Linda Lobao, Ron Martin, Linda McDowell, Jonathan Michie and Peter Tyler