Sri Lanka Human Capital Development : Realizing the Promise and Potential of Human Capital
Human capital is a central determinant of economic well-being and social advancement in the modern world economy. The concept of human capital covers the knowledge, skills, nutrition, and health that people accumulate over their lives, enabling them to realize their potential as productive membe...
| Main Authors: | , , , , , , |
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| Format: | Book |
| Published: |
Washington, DC: World Bank
2021
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| Online Access: | https://documents.worldbank.org/en/publication/documents-reports/documentdetail/790421628864288683/sri-lanka-human-capital-development-realizing-the-promise-and-potential-of-human-capital http://hdl.handle.net/10986/36113 |
| Summary: | Human capital is a central determinant of economic well-being and
social advancement in the modern world economy. The concept of
human capital covers the knowledge, skills, nutrition, and health that
people accumulate over their lives, enabling them to realize their potential
as productive members of society. Because of the vital importance of
human capital for economic growth, the World Bank has launched the
Human Capital Project (HCP), which includes the Human Capital Index
(HCI). The objective of the HCP is to accelerate human capital development
around the world. The HCI is a cross-country metric designed to measure
and forecast a country’s human capital.
Sri Lanka is a lower-middle-income country seeking to become an
upper-middle-income country. Developing human capital to a new and
higher level will be central to achieving this development goal. After the
country’s 26-year secessionist conflict ended in 2009, Sri Lanka’s economy
enjoyed rapid growth at an average rate of almost 6 percent between
2010 and 2017, reflecting a peace dividend and a determined policy thrust
toward reconstruction and growth. However, in more recent years there
have been signs of a slowdown. The economy is transitioning from a
predominantly rural economy to a more urbanized one.
In the context of the HCP and the HCI, Sri Lanka Human Capital
Development analyzes the main achievements and challenges of human
capital development in this East Asia and Pacific island country in health
and nutrition—including stunting—and in education—including the
challenges posed by Sri Lankans’ low participation in higher education.
The report concludes with a look at the importance of building a
consensus among the public and other stakeholders to launch an ambitious
human capital development program in Sri Lanka. |
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