Human Development and Economic Growth: An Empirical study of Jordan
DOI:
https://doi.org/10.33095/jeas.v22i93.437Keywords:
التنمية البشرية، النمو الإقتصادي، مؤشر التنمية البشرية، طريقة المربعات الصغرى، الأردن., Human Development, Economic Growth, Human Development Index, OLS, Jordan.Abstract
AbstractThis study aimed to demonstrate the impact of human development on economic growth in Jordan during the period (1980-2014), Where some diagnoses tests were applied, the results of these tests concluded that the standard models used in the study were free of statistical problems, and hence ordinary least squares (OLS) standard has been used as a tool for analysis to get efficient and unbiased estimates to parameters according to the theory of Gauss Markov.
The results showed that there is a strong and positive impact of human development represented by the Human Development Index (HDI) on economic growth in Jordan represented by the average of real productivity of the Jordanian worker (RAPL). The results of the study after the decomposition of HDI into three components show that a positive impact for each of the Education Index (EI) and the Health Index (HI) and the income index (II) on real economic growth. The results also showed that the classification of Jordan in terms of human development during the study period remained within the medium human development level despite the steady improvement in the value of the index. Finally, the study has come out with some recommendations.
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