Current and former finance and economic planning ministers from 20 countries participated in the seventh annual Harvard Ministerial Forum at Harvard last week. A key focus of the Forum was groundbreaking new research from David Bloom, Clarence James Gamble Professor of Economics and Demography at Harvard’s T.H. Chan School of Public Health, correlating economic returns from human development investments. [link to David’s paper] Bloom found that highest returns result from reductions in fertility; increased life span resulting from better health care and more healthy living; and increased educational attainment.
Participating ministers were challenged to consider whether their current budget spending is building a foundation for sustainable economic growth. For example, health and education account for the largest part of most countries’ budgets, but in many developing countries health and education outcomes are poor. One result is substantial and growing numbers of unemployed young people. Another is population increase continuing to outpace GDP growth. Ministers mapped a human development pathway for each of their countries focusing on the key human development building blocks with highest long-term economic benefits such as early childhood nutrition and educational development, better quality primary school education, access to comprehensive reproductive health services, and strengthening primary health care.
