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Comparative Review of the Human Capital Development Journeys of Vietnam and Sri Lanka

Amarasekara, Chandranath and Venuganan, Poongothai (2021): Comparative Review of the Human Capital Development Journeys of Vietnam and Sri Lanka. Published in: Vietnam Journal for Indian and Asian Studies , Vol. 9, No. 106 (September 2021): pp. 14-27.

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Abstract

Since its independence, Sri Lanka has been lauded by researchers and policymakers for its human capital outcomes and has consistently been ahead of its regional peers. On the other hand, Vietnam continued to struggle with conflicts and other economic bottlenecks which hindered the development of its human capital base, particularly until the initiation of the Doi Moi reform process in the mid 1980s. Accordingly, a comparative assessment is undertaken of the significantly different human capital development journeys of Vietnam and Sri Lanka to understand the course of progress that both countries have experienced especially in the last three decades. Such an assessment paves way to identify developmental lessons that policymakers of both countries can draw upon to further augment their human capital which will be pivotal to achieve sustainable and inclusive growth amid the short-run challenge of the COVID-19 pandemic and the medium-run challenge of the ‘middle-income trap.’

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