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date: 30 November 2021

Abstract and Keywords

This article surveys the development of human capital (HC) in developing countries, focusing on the significance of the Asian experience. Here, the trajectories of human and industrial capital development in the Asia Pacific region are investigated as the most promising developing region in economic terms, posing the critical questions of whether this region will succeed in joining the advanced industrial countries in the knowledge economy, and whether other developing countries and regions of the world can follow the same path. A central theme is how the countries of Asia have coped and will need to continue to cope in future with the shift to a globalized, knowledge-based economy. In this process of development, the article identifies a central role for HC while stressing the complementary nature of other forms of capital including social capital, financial capital, manufacturing capital, and natural capital.

Keywords: human capital, developing countries, Asia Pacific, knowledge-based economy, social capital, financial capital, manufacturing capital

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