01927cas a2200277 a 4500 AALejournalIMF008711 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451875140 1018-5941 BD-DhAAL BD-DhAAL Baldacci, Emanuele. Social Spending, Human Capital, and Growth in Developing Countries : Implications for Achieving the MDGs / Emanuele Baldacci, Larry Cui, Benedict Clements, Sanjeev Gupta. Washington, D.C. : International Monetary Fund, 2004. 1 online resource (39 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Using panel data from 120 developing countries from 1975 to 2000, this paper explores the direct and indirect channels linking social spending, human capital, and growth in a system of equations. The paper finds that both education and health spending have a positive and significant direct impact on the accumulation of education and health capital, and thus can lead to higher economic growth. The paper also finds that other policy interventions, such as improving governance, reducing excessive budget deficits, and taming inflation, can also be helpful in moving countries toward the Millennium Development Goals (MDGs). As such, higher spending alone is not sufficient to achieve the MDGs. Mode of access: Internet Clements, Benedict. Cui, Larry. Gupta, Sanjeev. IMF Working Papers; Working Paper ; No. 2004/217 Full text available on IMF http://elibrary.imf.org/view/journals/001/2004/217/001.2004.issue-217-en.xml IMF e-Library