Physical Capital, Human Capital, Natural Capital, Social Capital and Economic Growth
Physical Capital, Human Capital, Natural Capital, Social Capital and Economic Growth
Keywords:
Transaction Cost, Corruption, Capital Accumulation, Abundance of Capital, Depreciation of Social CapitalAbstract
Economic growth is created from demand for improvement of living conditions and servicesto increased human population. Factors for economic growth are accumulation of 4 types of capital which are complementary, comprising human capital, physical capital, social capital, and natural capital. Deficiency of any one can compromise economic growth and erodes supply of other types of capital. Abundance of human capital and natural capital is behind abundance of physical capital which drives economic growth. On the other hand, abundance of physical capital creates climate for accumulation of human capital and wise use of natural capital. Social capital is crucial for healthy economic transactions and wise use of natural capital which is behind sustainable economic growth.
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Kaplan, R., S., & Norton, D., P. (1992). The Balanced Scorecard - Measures That Drive Performance. Harvard Business Review, (January–February), 71–79.
Lovelock, J. E. (1988). The Ages of Gaia. New York: W.W. Norton Co., Inc.
Maslow, A. H. (1943). A Theory of Human Motivation. Psychological Review, 50 (4), 370–96.
McColgan, P. (2001). Agency theory and corporate governance: a review of the literature from a UK perspective. Working paper, May 22, 2001. Glasgow: Universiteit van Strathclyde. Retrieved June 6, 2013 from http://www.ppge.ufrgs.br/giacomo/arquivos/gov-corp/mccolgan-2001.pdf
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Solow, R. M. (1956). A Contribution to the Theory of Growth Theory. The Quarterly Journal of Economic, 70 (1), 65-94. Retrieved March 23, 2016 from http://link.jstor.org/sici?sici=0033-5533%28195602%2970%3A1%3C65%3AACTTTO%3E2.0.CO%3B2-M
Thomas, V., Dailami, M., Dhareshwar, A., Kaufmann, D., Kishor, N., Lopez, R., & Wang, Y. (2000). The Quality of Growth. New York: Oxford University Press. ISBN: 0-19-521593-1
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2018-09-30
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Pholpanich, R., & Kunnoot, S. (2018). Physical Capital, Human Capital, Natural Capital, Social Capital and Economic Growth: Physical Capital, Human Capital, Natural Capital, Social Capital and Economic Growth. NIDA Development Journal, 58(3), 154–168. Retrieved from https://so04.tci-thaijo.org/index.php/NDJ/article/view/163143
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