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Human development index impact on economic growth

Author

Listed:
  • Pham Tan Hoa

    (Kien Tuong Town, Long An Province,, Vietnam)

  • Le Thanh Liem

    (People’s Committees in Ho Chi Minh City, Vietnam)

  • Nguyen Kim Phuoc

    (Ho Chi Minh City Open University, Vietnam)

Abstract

Several studies have explored the determinants of economic growth among countries. The research generally refers to factors such as physical capital/capital, labor, technology, infrastructure, policy institutions, the openness of the economy... However, previous studies rarely mention the human development index (HDI). This study reviewed the human development index (HDI) and other factors affecting the economic growth of nations. The research based on the theory of Solow (1956), Chiu, Hsu, & Wang (2006) and Ferreira-Lopes Sequeira (2011). Reseach data from the data collected by the World Bank to analyze samples in 30 countries during the period (1999-2014). Table of data regression results table (Pooled, FEM and REM) show that HDI has a positive impact on economic growth of countries. Based on the study results, the recommendations are proposed in order to promote stability growth in countries and to ensure the harmony economic growth between and the goals of social development.

Suggested Citation

  • Pham Tan Hoa & Le Thanh Liem & Nguyen Kim Phuoc, 2016. "Human development index impact on economic growth," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 6(1), pages 3-13.
    • Handle: RePEc:bjw:econen:v:6:y:2016:i:1:p:3-13
    DOI: 10.46223/HCMCOUJS.econ.en.6.1.106.2016
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    References listed on IDEAS

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    1. Sadequl Islam, 1995. "The human development index and per capita GDP," Applied Economics Letters, Taylor & Francis Journals, vol. 2(5), pages 166-167.
    2. Tiago Neves Sequeira & Alexandra Ferreira-Lopes, 2011. "An Endogenous Growth Model with Human and Social Capital Interactions," Review of Social Economy, Taylor & Francis Journals, vol. 69(4), pages 465-493, December.
    3. Abhijit Sharma & Theodore Panagiotidis, 2005. "An Analysis of Exports and Growth in India: Cointegration and Causality Evidence (1971–2001)," Review of Development Economics, Wiley Blackwell, vol. 9(2), pages 232-248, May.
    4. Antonio Afonso & Ludger Schuknecht & Vito Tanzi, 2010. "Public sector efficiency: evidence for new EU member states and emerging markets," Applied Economics, Taylor & Francis Journals, vol. 42(17), pages 2147-2164.
    5. R. Milbourne & G. Otto & G. Voss, 2003. "Public investment and economic growth," Applied Economics, Taylor & Francis Journals, vol. 35(5), pages 527-540.
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    Keywords

    GDP; HDI; Economic Growth;
    All these keywords.

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