35© The Author(s) 2020
A. Posso (ed.), Child Labor in the Developing World,
https://doi.org/10.1007/978-981-15-3106-4_3
3
Child Labour and Human Capital in
Developing Countries: A Multi-Period
Stochastic Model
Indrajit Thakurata
3.1 Introduction
Why are some countries poorer than others? This question has been at the
centre of a fecund research agenda in the field of economic growth and
development. Whilst recognizing the role played by culture, geography,
natural resources, government, openness and institutions, the differences in
growth across nations are factored into differences arising from the accu-
mulation of physical capital, technology and human capital. With regard
to human capital, it has been documented that countries with higher per
I. Thakurata (*)
Indian Institute of Management Indore, Indore, India
e-mail:
[email protected]
This chapter is a reprinted version of the original article “Child Labour and Human Capital in
Developing Countries: A Multi-Period Stochastic Model” published in Economic Modelling, 2018
(with Prof. Errol D’Souza as co-author). Please refer to the original paper for details. The author
thanks the Editor Prof. Sushanta K. Mallick and Elsevier for the permission to reprint the journal
article. Link to the original paper: https://www.sciencedirect.com/science/article/pii/
S026499931730353X.