Inclusive Growth Through Creation of Human and Social Capital

Soumyananda Dinda ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper analyses inclusive growth that focuses on the creation of opportunities for all. Inclusive growth allows people to contribute to and benefit from economic growth, while pro-poor growth approaches focusing on welfare of the poor only to reduce inequality. Recently, economics literature incorporates social capital for explaining regional disparities. Economic development of country depends on the impact of social capital which includes social culture, norms and regulations that promote economic reforms and development activities. Social capital forms with the development of human capital through schooling. Educated individuals are interested in dialogue and conversation. Interaction enables people to build trust, confidence and cooperation, to commit themselves to each other (i.e. reciprocity), and thereby to knit the social fabric. This study deals with the formation of social capital through development of human capital that is created through improvement of schooling and/or social inclusion. Creation of human and social capital is the basis for inclusive growth. The predictions of the model are examined empirically for a cross-section of countries and findings support the model.

Keywords: Human Capital; Inclusive Growth; Pro-poor Growth; Social Capital; Social network; Productive Consumption; Schooling; Social Inclusion; Co-operation; Reciprocity; Economic growth; Economic Development. (search for similar items in EconPapers)
JEL-codes: C21 H52 I25 I28 O41 O47 Z13 Z18 (search for similar items in EconPapers)
Date: 2011-08, Revised 2013-08-30
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in International Journal of Social Economics 10.41(2014): pp. 878-895

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Journal Article: Inclusive growth through creation of human and social capital (2014)
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