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Globalizing India. Dev Nathan Institute for Human Development New Delhi Duke University, USA. Why Economic Growth?. For itself? As means to human development ? Two measures Economic development – GDP or GDP per capita Human development – HDI

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Globalizing india

Globalizing India

Dev Nathan

Institute for Human Development

New Delhi

Duke University, USA


Why economic growth
Why Economic Growth?

  • For itself?

  • As means to human development?

  • Two measures

    • Economic development – GDP or GDP per capita

    • Human development – HDI

  • Is there a relation between GDP (GNI) and HDI?


HDI

Three components of HDI

  • Income

  • Educational attainment

  • Health /nutrition status

    Is there a relation between income (GDP) and human development (HDI)?

  • As component

  • As instrumental variable


Gni and hdi
GNI and HDI

  • Low HDI – Avg. 0.456

    • High elasticity of HDI with respect to GNI (>1)

  • Medium HDI – Avg. 0.630

    • Medium elasticity (0.75 to < 1)

  • High HDI – Avg. 0.741

    • Low elasticity (between 0.50 to 0.75)

  • Very High HDI – Avg. 0.889

    • Very low elasticity


Hdi of regions
HDI of Regions

  • Arab States - 0.641

  • East Asia and the Pacific - 0.671

  • Europe and Central Asia - 0.751

  • LA and C - 0.731

  • South Asia - 0.548

  • Sub-Saharan Africa - 0.463

  • LDCs - 0.439


Does we need economic growth for human development
Does we need economic growth for human development?

  • Distinguish between countries at different HDI levels

  • Need for growth falls with increase in HDI

  • Our need for growth as instrumental to human development is different from the need of capital to grow


Structure of world economy
Structure of world economy

  • Developing economies – middle to low income, including emerging economies

  • Developed economies – high income

  • Asia, Africa and Latin America

  • Market of about $12 trillion, or 36 percent of global gross domestic product in 2012, up from 10 percent in 1980


Projected income for india by oecd
Projected Income for India by OECD


Size of economies
Size of economies

  • GDP - per capita income and population size

  • With population more than thrice that of USA, at one-third the per capita income, the Chinese and Indian economies will be larger than that of the US

  • In PPP terms even earlier




India poverty ratio among social groups 1993 94 2004 05 and projected to 2015 16
India: Poverty Ratio among Social Groups, 1993-94, 2004-05 and projected to 2015-16


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