An Analysis of Impact of Human Capital Investment on Demographic Characteristics of Human Resources: A Study of Chennai District, Tamil Nadu, India
Journal Title: International Journal of Humanities and Social Science Invention - Year 2017, Vol 6, Issue 1
Abstract
The demographic features of the 2011census of India have revealed that India is the second largest country next to China in terms of working age population (25 - 50 years) in the world. It has been known that the country’s economic growth is based on both natural and human resources available in the country. Still, there are more avenues for effective and efficient use of labour-productivity in this age group. It is well conceived by the theory that the human resources are the biggest contributor of economic growth which is augmented by a process of human capital formation. Of late, health and education have been viewed as the two dimensions of human capital which are treated as an indicator of social welfare. The variations in health status of different age groups in market and non-market labour productivities are still prevalent in many developing countries. The low health status persons contribute less to human capital formation than of others (Behrman and Deolalikar, 1988). According to them, “Health is a state of complete physical, mental and social wellbeing and not merely the absence of disease or infirmity”. Therefore, it cannot be purchased by the consumers in the market as we do for other goods and services in the market. On the other hand, it can be produced by spending time upon health improving activities, as well as, purchasing medical inputs (Grossman M., 1972). Behrman has pointed out that there is an inverse relationship between low health status and human capital formation. Therefore, the economists have focused their attention to study the determinants and impact of health status on economic growth. The present study attempts to analyse the human capital investment and its impact of socio- economic status on human resources (HR) in Chennai district, Tamil Nadu. To aid our research effort, an extensive literature has also been reviewed in an attempt to answer various queries raised. On the basis of the statement of problems, the research questionnaires have been canvassed among the respondents to obtain the information. This study is based on databases obtained both from primary and secondary sources. The information through primary sources has been collected with the help of interview schedule. The secondary data on Human Capital Investment and the Impact of Socio- Economic Status on Human Resources have been collected from various sources in Chennai City. In the health sector, this study focuses its attention to reporting illness, amount spent, days lost. Some of the opted econometric techniques have been used to examine the objectives of the study. Our empirical strategy has applied the following tools of analysis. The statistical tools like OLS, PROBIT and LOGIT techniques are used to analyze the indicator ‘selfreported illnesses. And, ‘Health expenditure’ and ‘number of days lost’ are estimated by OLS and TOBIT techniques, besides by applying correlation, regression analysis.
Authors and Affiliations
Navin kumar Jha, Selvaraj . M
Keywords
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