Models of economic growth and development in the context of human capital investment: the way forward for Africa
The economic literature ever since the dawn of modern economics has been much preoccupied with the issue of economic growth. Economic growth has also been understood to establish the conditions for economic development. The better-known models of economic growth such as the Lewis, Rostow, Harrod-Dom...
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ftjafricanj:oai:ojs.ajol.info:article/190330 2023-05-15T16:50:30+02:00 Models of economic growth and development in the context of human capital investment: the way forward for Africa Keita, Lansana 2019-10-14 application/pdf https://www.ajol.info/index.php/ad/article/view/190330 eng eng CODESRIA https://www.ajol.info/index.php/ad/article/view/190330/179548 https://www.ajol.info/index.php/ad/article/view/190330 Copyright for articles published in this journal is retained by the journal. Africa Development; Vol 43, No 3 (2018); 159-183 0850-3907 economic growth economic development human capital growth models info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article 2019 ftjafricanj 2019-10-20T00:08:18Z The economic literature ever since the dawn of modern economics has been much preoccupied with the issue of economic growth. Economic growth has also been understood to establish the conditions for economic development. The better-known models of economic growth such as the Lewis, Rostow, Harrod-Domar, Solow, and Romer growth models are discussed. The discussions apply contextually to the problematic issue of growth and development in Africa. It is argued that a very necessary condition for growth and transformational development in Africa is heavy investment in human capital. It is pointed out that countries that invest much human capital to produce highly educated populaces usually reap the benefits of such in terms of high per capita GDPs, regardless of the levels of their technological and industrial output. Countries like New Zealand, Iceland, and Denmark offer evidence of this. Models of African development such as the Lagos Plan of Action in terms of the whole continent are discussed within the context of existing impediments to such progress.Keywords: economic growth, economic development, human capital, growth models Article in Journal/Newspaper Iceland AJOL - African Journals Online New Zealand |
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AJOL - African Journals Online |
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ftjafricanj |
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English |
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economic growth economic development human capital growth models |
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economic growth economic development human capital growth models Keita, Lansana Models of economic growth and development in the context of human capital investment: the way forward for Africa |
topic_facet |
economic growth economic development human capital growth models |
description |
The economic literature ever since the dawn of modern economics has been much preoccupied with the issue of economic growth. Economic growth has also been understood to establish the conditions for economic development. The better-known models of economic growth such as the Lewis, Rostow, Harrod-Domar, Solow, and Romer growth models are discussed. The discussions apply contextually to the problematic issue of growth and development in Africa. It is argued that a very necessary condition for growth and transformational development in Africa is heavy investment in human capital. It is pointed out that countries that invest much human capital to produce highly educated populaces usually reap the benefits of such in terms of high per capita GDPs, regardless of the levels of their technological and industrial output. Countries like New Zealand, Iceland, and Denmark offer evidence of this. Models of African development such as the Lagos Plan of Action in terms of the whole continent are discussed within the context of existing impediments to such progress.Keywords: economic growth, economic development, human capital, growth models |
format |
Article in Journal/Newspaper |
author |
Keita, Lansana |
author_facet |
Keita, Lansana |
author_sort |
Keita, Lansana |
title |
Models of economic growth and development in the context of human capital investment: the way forward for Africa |
title_short |
Models of economic growth and development in the context of human capital investment: the way forward for Africa |
title_full |
Models of economic growth and development in the context of human capital investment: the way forward for Africa |
title_fullStr |
Models of economic growth and development in the context of human capital investment: the way forward for Africa |
title_full_unstemmed |
Models of economic growth and development in the context of human capital investment: the way forward for Africa |
title_sort |
models of economic growth and development in the context of human capital investment: the way forward for africa |
publisher |
CODESRIA |
publishDate |
2019 |
url |
https://www.ajol.info/index.php/ad/article/view/190330 |
geographic |
New Zealand |
geographic_facet |
New Zealand |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
Africa Development; Vol 43, No 3 (2018); 159-183 0850-3907 |
op_relation |
https://www.ajol.info/index.php/ad/article/view/190330/179548 https://www.ajol.info/index.php/ad/article/view/190330 |
op_rights |
Copyright for articles published in this journal is retained by the journal. |
_version_ |
1766040638197858304 |