Transcription of Economic Growth and Human Development - Yale …
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Economic Growth and Human Development - Yale …
World Development Vol. 28, No. 2, pp. 197 219, 2000. 2000 Elsevier Science Ltd. All rights reserved Printed in Great Britain 0305-750X/00/$ - see front matter PII: S0305-750X(99)00131-X. Economic Growth and Human Development GUSTAV RANIS. Yale University, New Haven, Connecticut, USA. FRANCES STEWART. University of Oxford, UK. and ALEJANDRO RAMIREZ *. United Nations Development Program, New York, USA. Summary. The connections between Economic Growth (EG) and Human Development (HD) form two chains. Crosscountry regressions show a signi cant relationship in both directions, with public expenditures on health and education, notably female, especially important in the chain from EG to HD; and the investment rate and income distribution signi cant in the HD to EG chain. This gives rise to virtuous or vicious cycles, with good or bad performance on HD and EG reinforcing each other. Evidence over time has strong sequencing implications: countries initially favoring Economic Growth lapse into the vicious category, while those with good HD and poor EG sometimes move into the virtuous category.
Economic Growth and Human Development GUSTAV RANIS Yale University, New Haven, Connecticut, USA FRANCES STEWART University of Oxford, UK and ALEJANDRO RAMIREZ*
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