Title

An Expanded Concept of Capital in Development Economics

Department

Economics, Finance, & Quantitative Analysis

Document Type

Article

Publication Date

2008

Abstract

The article focuses on the expanded concept of capital in development economics. It states that the word capital has been traditionally utilized in economics to refer to machines, buildings and physical infrastructure of an economy. It discusses that the expanded concept of capital includes five forms of capital, which are physical capital, human capital, technological know-how, institutional capital and social capital. It mentions that taken together, the five concepts provide a comprehensive framework that can be employed to appraise and advise the development process across societies.

Journal

World Economic Journal

Volume

9

Issue

4

First Page

201

Last Page

208