Force and Field Factors of Growth and Development: Evidence from International Experience
Abstract
It is widely accepted that parents in many developing countries make extra ordinary efforts to educate their children and to instil a higher level of human capital in them. I label such a development in human capital as a ‘force factor’ of economic growth. However, this force factor alone cannot generate lasting economic growth and development when ‘field factors’ of growth are not present. Field factors are the growth promoting factors the economic environment should provide. Examples are national security, law and order, governance and property rights. In the absence of healthy field factors, the human capital development gets retarded, or flies out of the country, inhibiting economic growth and development. In this paper, I provide an analysis of international data on force and field factors to support this hypothesis.
Sri Lanka Journal of Advanced Social Studies, Vol 2:No. 2, July – December 2012; Page 43-56
© 2013 HN Thenuwara, published by National Centre for Advanced Studies in Humanities and Social Sciences (NCAS)
This work is licensed under the Creative Commons License.