Economic Growth and Human Development in Developing Countries
Virtuous or Vicious Circle
Bibliographic Data
| ID | 10713440 |
|---|---|
| Authors | Martin Schlossarek (0000-0003-4212-4573), Jaromír Harmáček (0000-0002-3711-0663), Petr Pavlík (0000-0002-6138-1156) |
| Year | 2016 |
| Volume | 64 |
| Issue | 6 |
| Pages | 651-673 |
| Publication date | 2016-10-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Politická ekonomie (JOURNAL) |
| Journal identifiers | ISSN: 0032-3233 • E-ISSN: 2336-8225 |
| Publisher | Prague University of Economics and Business (PUBLISHER • CZ) |
| DOI | 10.18267/j.polek.1102 |
| OpenAlex | W2536808505 |
| Language | EN |
| References cited | 20 |
The paper analyses the relationship between economic growth and human development in developing countries. While the former is often perceived as a necessary precondition for successful human development, the latter is regarded to be the main development objective. However, the link between economic growth and human development seems to be more complex. According to Ranis et al. (2000) the relationship is two-sided and mutually reinforcing, so in the long run the countries usually end up either in the vicious circle of bad economic growth and human development performance, or in the virtuous circle of positive results in both areas. The authors also suggest that the emphasis on economic growth does not lead to desired human development outcomes. Our work builds on their research and improves the methodology: we have introduced two new classifications based on countries' outcomes in areas of human development and economic growth that allow us to obtain better and more precise results. We have investigated data for 71 developing countries in three periods of time within 1980-2012. Our main findings are in some respects in line with Ranis et al. (2000) and suggest that countries with high pace of human development appear to achieve and retain high economic growth in the future, thus heading towards the virtuous circle of fast economic growth and human development. On the other hand, countries with low pace of human development tend to fall into vicious circle of slow economic growth and human development
Developing country · Development economics · Economic growth · Economic system · Economics · Geography · Human capital · Human development (humanity) · Human Development Report · Macroeconomics · Pace · Virtuous circle and vicious circle · Economic Growth and Productivity · Fiscal Policy and Economic Growth · Income, Poverty, and Inequality
Technological Diffusion, Convergence, and Growth
The New Growth Evidence
Well-Being, Agency and Freedom
Strategies for Success in Human Development
The Social Outcomes of Education and Feedbacks on Growth in Africa
Chapter 34 Human resources
A Reassessment of the Relationship Between Inequality and Growth
Inequality and Growth in a Panel of Countries
Economic Growth and Human Development
Economic Growth and Poverty Reduction
New ways of looking at old issues
Learning by Doing and Learning from Others
The Impact of Fiscal Policy on Economic Growth in the OECD Countries
Human Development in Poor Countries
| Highly cited | No |
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