ABSTRACT
It is commonly believed that economic growth ought to be broad-based enough to significantly improve the living standards of the poorer segments of society. The contemporary concept of human development encompasses a broader and richer process than mere economic growth and wealth accumulation (UNDP 2007). According to this concept, development means the creation of an environment in which all members of a society can take full advantage of their potential, live as they wish to, and have more choices. But in a number of countries, rapid growth has not led to strong improvements in human development. Countries with high per-capita incomes can have poor levels of achievement in human development, while those with low per-capita incomes or growth rates can nevertheless do well on this front.
