Macroeconomics and Human Development

Bibliographic Data

ID2183589
AuthorsDeepak Nayyar (0000-0002-3957-0153)
Year2012
Volume13
Issue1
Pages7-30
Publication date2012-02-01
Open AccessNo
TypeARTICLE
VenueJournal of Human Development (JOURNAL)
Journal identifiersISSN: 1464-9888 • E-ISSN: 1469-9516
PublisherInforma UK Limited (PUBLISHER • GB)
DOI10.1080/19452829.2011.643121
OpenAlexW2047955274
LanguageEN
Citations received3
References cited17

This article analyses the interactions between macroeconomics, in terms of objectives and policies, and human development, which is about the well-being of people. Each can, and often does, exercise a significant influence on the other. Macroeconomics matters for human development because it determines the level of employment, the degree of social protection and the public provision of services such as healthcare or education. Human development has implications and consequences for macroeconomics, for it can mobilize or claim resources to enlarge or diminish space for macroeconomic policies. The relationship exists, and matters, not only in poor countries but also in rich countries. Employment, even if neglected, provides the critical link. The paper shows that the causation runs in both directions and could be either positive or negative. It also reveals similarities and differences between developing countries and industrialized countries. The political context is significant, everywhere, as interests, ideology and institutions influence economic policies in both spheres to shape outcomes

Causation · Developing country · Development economics · Economic growth · Economics · Human resources · Ideology · Political science · Politics · Public economics · Economic Growth and Productivity · Economic Theory and Policy · Fiscal Policy and Economic Growth

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