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Human capital development and welfare in the South Korea : Lessons to learn for Sub-Saharan Africa

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  • Human capital development and welfare in the South Korea
  • Oputa, Omesham Noelle
  • Development Studies Association


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Title Human capital development and welfare in the South Korea
Similar Titles
Sub Title

Lessons to learn for Sub-Saharan Africa

Material Type Article
Author(English)

Oputa, Omesham Noelle

Publisher

[Hove] : Development Studies Association

Date 2015-01
Pages 41
Subject Country Africa(Africa)
South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Social Development < Social Welfare
Social Development < Education
Holding Development Studies Association
License

Abstract

This paper examines the impact of human capital development on welfare in South Korea. The neoclassical theory of human capital, endogenous growth models, Mincer human capital theory and Capabilities approach theory formed the theoretical basis for which the modified human capital development model for the study was specified. The model analysed the impact of the independent variables, Government Expenditure on Education (GEE), Average Years of Schooling (AVR), Life Expectancy (LE), Primary Education Enrolment Rates (PER), Secondary Education Enrolment Rates (SEC) and Tertiary Education Enrolment Rates (TER) on welfare proxied by GNI per capita. OLS estimation technique was used. The results revealed that Government Expenditure on Education, Average Years of Schooling, Life Expectancy were significant in explaining the variations in welfare with government expenditure having a negative impact, while the enrolment rates were insignificant. (The rest omitted)