HUMAN CAPITAL INDEX AND ITS IMPLICATIONS FOR EGYPT: IN LIGHT OF THE 2019 WORLD DEVELOPMENT REPORT: THE CHANGING NATURE OF WORK

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Abstract

This paper explains a new crucial indicator in measuring knowledge and human capabilities which is the Human Capital Index ("HCI"). This index was launched by the World Bank Group in October 2018. At the beginning of this paper, HCI is introduced and the reasons behind its significance are explained. These reasons revolve mainly around the need to motivate countries to increase investment in human capital to tackle the challenges of the Fourth Industrial Revolution. Following which, the three components of HCI – the rate of child survival until the age of five, education, and health – are explained in a simplified manner. After that, the research reports the overall HCI and the components for Egypt and its ranking amongst all 157 economies included in the index. Egypt has an HCI of around 0.49 and ranks 104th. This low rank is mainly attributable to poor quality of education in Egypt as the Egyptian child, in the age-group 4-18 years, only receives 6.3 years of education out of 14 years, according to the benchmark of complete high-quality education which is the second component of HCI. Accordingly, the research concludes with making recommendations that can help improving the quality of education in Egypt, mostly related to investment in early childhood development.
Translated title of the contributionHUMAN CAPITAL INDEX AND ITS IMPLICATIONS FOR EGYPT: IN LIGHT OF THE 2019 WORLD DEVELOPMENT REPORT: THE CHANGING NATURE OF WORK
Original languageOther
Number of pages26
Publication statusPublished - 8 Feb 2020
Event The 29th Conference of the Egyptian Economists on "Knowledge Economy and Sustainable Development Issues": Held by the Egyptian Society for Political Economy, Statistics and Legislation - Fairmont Nile City Hotel, Cairo, Egypt
Duration: 8 Feb 20209 Feb 2020
Conference number: 29

Conference

Conference The 29th Conference of the Egyptian Economists on "Knowledge Economy and Sustainable Development Issues"
Abbreviated titleKnowledge Economy and Sustainable Development Issues
CountryEgypt
CityCairo
Period8/02/209/02/20

Keywords

  • Human Capital Index
  • human capital investment
  • Human development
  • Knowledge
  • Human capital

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