Human capital is a broad concept involving education and health that are central for human beings’ productivity. Low human capital or capacity is then considered as a key barrier for growth and development. Low human capital is one of the three criteria used by the United Nations Committee for Development Policy (CDP) to identify the least developed countries (LDCs). To capture human capital, the CDP initially used the literacy rate, then from 1991 to 2002 the augmented physical quality of life index (APQLI), a composite index, renamed in 2003 human assets index or HAI (see Guillaumont 2009, chapter 5).
Codes JEL : I31 , I32