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Human Capital vs Physical Capital: A cross country analysis of human development strategies

Rizwana Siddiqui

MPRA Paper from University Library of Munich, Germany

Abstract: This study estimates a small simultaneous equation model using panel data from sixty-four countries for the years, 1996 and 2004. The model is estimated by various techniques - OLS, TSLS, dummy variable approach introducing variation at the regional level and fixed and random effect approaches introducing variation at the individual country level. The objective is to identify the importance of basic needs in human development strategies in Asia, Africa and rest of the world (ROW). The results show that income per capita has priority over basic need expenditure in development strategies of all regions despite quantitatively different. However, the importance of basic need expenditure cannot be denied in terms of capabilities development (improvement in health) that ultimately increases productivity.

Keywords: Human capital; Physical capital; Income per capita; Basic needs Expenditures; Human Development (search for similar items in EconPapers)
JEL-codes: O1 O15 (search for similar items in EconPapers)
Date: 2008-08-05, Revised 2008-12
New Economics Papers: this item is included in nep-dev, nep-hrm and nep-sea
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Related works:
Working Paper: Human Capital vs. Physical Capital: A Cross-Country Analysis of Human Development Strategies (2009) Downloads
Working Paper: Human Capital vs. Physical Capital: A Cross-Country Analysis of Human Development Strategies (2009) Downloads
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