Human Capital, Urbanization and Dynamics of Economic Growth and Development
The process of economic growth and development has been shifted towards new strategies of entrepreneurship, institutional development, and market development. The shifting of the development process towards new strategies needs human capital, developed infrastructure, and effective policy reforms. T...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Ital Publication
2021-12-01
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| Series: | Journal of Human, Earth, and Future |
| Subjects: | |
| Online Access: | https://www.hefjournal.org/index.php/HEF/article/view/122 |
| _version_ | 1798037818851721216 |
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| author | Rashid Mehmood Zia Ullah Irfan Lal |
| author_facet | Rashid Mehmood Zia Ullah Irfan Lal |
| author_sort | Rashid Mehmood |
| collection | DOAJ |
| description | The process of economic growth and development has been shifted towards new strategies of entrepreneurship, institutional development, and market development. The shifting of the development process towards new strategies needs human capital, developed infrastructure, and effective policy reforms. This study investigates how urbanization impacts economic growth and development through the channels of external economies, institutional development, and human capital accumulation. The study focuses first on finding the relationship between human capital and urbanization and their convergence towards economic growth through capacity development. Secondly, it examines the role of urbanization in the formation of human capital and finds the channels through which it facilitates markets. By using econometric time series techniques, we found that urbanization plays a key role in the accumulation of human capital through structural changes and has a long-term relationship with economic growth and development. Our analysis shows that the demographic change of the population from rural to urban stimulates infrastructural development, investment in human capital, and institutional arrangements. Results of the study also suggest that the process of demographic transformation not only increases entrepreneurship activities but also drives up the living standards of citizens through the provision of social services.
JEL Classification: O18; J24; O4; H77.
Doi: 10.28991/HEF-2021-02-04-06
Full Text: PDF |
| first_indexed | 2024-04-11T21:31:45Z |
| format | Article |
| id | doaj.art-fd6e96196fc84df78ba81eb457720ed9 |
| institution | Directory Open Access Journal |
| issn | 2785-2997 |
| language | English |
| last_indexed | 2024-04-11T21:31:45Z |
| publishDate | 2021-12-01 |
| publisher | Ital Publication |
| record_format | Article |
| series | Journal of Human, Earth, and Future |
| spelling | doaj.art-fd6e96196fc84df78ba81eb457720ed92022-12-22T04:01:57ZengItal PublicationJournal of Human, Earth, and Future2785-29972021-12-012438239410.28991/HEF-2021-02-04-0648Human Capital, Urbanization and Dynamics of Economic Growth and DevelopmentRashid Mehmood0Zia Ullah1Irfan Lal2Applied Economics Research Centre, University of Karachi, Karachi,Senior lecturer, Institute of Business Management (IoBM), Karachi,Senior lecturer, Institute of Business Management (IoBM), Karachi,The process of economic growth and development has been shifted towards new strategies of entrepreneurship, institutional development, and market development. The shifting of the development process towards new strategies needs human capital, developed infrastructure, and effective policy reforms. This study investigates how urbanization impacts economic growth and development through the channels of external economies, institutional development, and human capital accumulation. The study focuses first on finding the relationship between human capital and urbanization and their convergence towards economic growth through capacity development. Secondly, it examines the role of urbanization in the formation of human capital and finds the channels through which it facilitates markets. By using econometric time series techniques, we found that urbanization plays a key role in the accumulation of human capital through structural changes and has a long-term relationship with economic growth and development. Our analysis shows that the demographic change of the population from rural to urban stimulates infrastructural development, investment in human capital, and institutional arrangements. Results of the study also suggest that the process of demographic transformation not only increases entrepreneurship activities but also drives up the living standards of citizens through the provision of social services. JEL Classification: O18; J24; O4; H77. Doi: 10.28991/HEF-2021-02-04-06 Full Text: PDFhttps://www.hefjournal.org/index.php/HEF/article/view/122urbanizationhuman capitalfiscal decentralizationeconomic growth. |
| spellingShingle | Rashid Mehmood Zia Ullah Irfan Lal Human Capital, Urbanization and Dynamics of Economic Growth and Development Journal of Human, Earth, and Future urbanization human capital fiscal decentralization economic growth. |
| title | Human Capital, Urbanization and Dynamics of Economic Growth and Development |
| title_full | Human Capital, Urbanization and Dynamics of Economic Growth and Development |
| title_fullStr | Human Capital, Urbanization and Dynamics of Economic Growth and Development |
| title_full_unstemmed | Human Capital, Urbanization and Dynamics of Economic Growth and Development |
| title_short | Human Capital, Urbanization and Dynamics of Economic Growth and Development |
| title_sort | human capital urbanization and dynamics of economic growth and development |
| topic | urbanization human capital fiscal decentralization economic growth. |
| url | https://www.hefjournal.org/index.php/HEF/article/view/122 |
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