Lending Institutions, Health Care, and Human Capital: Kenya, Economics Essay Example

Published: 2022-03-11 03:28:16
Lending Institutions, Health Care, and Human Capital: Kenya, Economics Essay Example
Type of paper:  Research paper
Categories: Economics Healthcare
Pages: 4
Wordcount: 988 words
9 min read
143 views

A developing country is one, which has not reached its potential in becoming an economy that can sustain itself and have excess to lend other nations. Hence, the income levels in a developing country are low, and there is less money in circulation (Mulili & Wong, 2011). This means that most people do not have high education rates meaning that the overall literacy levels in the nation are low compared to a developed country. One woman gives birth to too many children since they get married at an early age. The healthcare facilities do not offer quality services since the government had limited resources in developing all sectors in the nation. Accessibility to finances for citizens is also low since most people do not know how they can maximize the money in their hands (Liargovas & Skandalis, 2012). This paper will focus on Kenya as one of the developing nations in the world by studying how it maximizes its human capital and gender disparities as well as the health status in the country.

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Human capital is the skills and knowledge employees, and individuals possess about the value they add to the economy. It is the input of labor and the value gained in the workplace through the application of knowledge and skills (Mulili & Wong, 2011). Kenya uses its human capital in the industries and other areas, which help the economy to grow in a bid to improve the status of the country. In the recent past, the nation has capitalized in the education sector to ensure that people gain the relevant skills and knowledge. The training allows them to handle different positions in the organizations, which have mushroomed in the country in the past fifty years since Kenya gained political independence (Sudhinaraset et al., 2013). In addition, the policy makers and strategists in the nation have realized the need to engage both men and women as long as they possess the skills and knowledge needed for various workplace positions. Therefore, the human capital inclusion does not have any gender disparities, which prevent all citizens from undertaking their duties as required of them.

Health plays an important role in developing nations, as people need quality facilities, which can offer treatment services as and when in demand. Healthy people are in a position to work and build the nation since they will offer their skills, wisdom, expertise, and knowledge in the positions they hold in the workplaces (Bradley et al., 2012). They will also be in a position to make both major and minor decisions as they think of ways in which they can help the economy grow in all areas. Kenya has seen a large percentage of their national budget go to the construction of hospitals with the aim of improving the services that exist in them. Each county in the country has a level-five hospital, which is larger than the others in that area are, and it acts as a referral facility. Despite the developments taking place in Kenya, the government has had to depend on external funding since the internally generated income is not sufficient to handle all projects, which will help the economy reach its potential. Therefore, the International Monetary Fund (IMF) and World Bank have been at the forefront in providing monetary assistance to Kenya as it engages in different activities that help improve the performance of the economy and sustain the high population in the nation (Reuter, 2012). Some of the conditions they set for countries like Kenya, which borrow funds, are engaged in capital projects, which will benefit a large number of citizens and remain accountable in their actions as well as in their repayments programs (Mulili & Wong, 2011). The development sociology in Kenya indicates that the social change has gone through a tremendous transformation, as people are moving towards gaining intellectual knowledge. In addition, most citizens in Kenya have adopted technological developments, which help in the management of the education and health sector. Most women in the country are accessing education meaning that the population growth is low (Liargovas & Skandalis, 2012). Women are giving birth later in life since they pursue their education and settle down in marriage later in life. For instance, Kenya has used international help to upgrade county hospitals to reduce the workload in the national hospital, Kenyatta National Hospital that deals with both local and regional medical emergencies.

Some of the ways in which a healthy population strengthens the economy is that people with good health are in a position to work and engage in different activities, which collectively contributes towards the growth of the economy (Kshetri, 2010). For instance, people can pursue their education since they feel healthy. In addition, in case they feel sick, the health care facilities are well equipped to provide all types of services, which mean the recovery process is fast. A healthy population strengthens the economy since they have an opportunity to develop innovative ideas, which can transform the country (Bradley et al., 2012). Healthy people can think of ways to overcome the challenges, which arise without the need of relying on external help.

References

Bradley, S. W., McMullen, J. S., Artz, K., & Simiyu, E. M. (2012). Capital is not enough: Innovation in developing economies. Journal of Management Studies, 49(4), 684-717.

Kshetri, N. (2010). Cloud computing in developing economies. Computer, 43(10), 47-55.

Liargovas, P. G., & Skandalis, K. S. (2012). Foreign direct investment and trade openness: The case of developing economies. Social indicators research, 106(2), 323-331.

Mulili, B. M., & Wong, P. (2011). Corporate governance practices in developing countries: The case for Kenya. International journal of business administration, 2(1), 14.

Reuter, P. (Ed.). (2012). Draining development?: controlling flows of illicit funds from developing countries. World Bank Publications.

Sudhinaraset, M., Ingram, M., Lofthouse, H. K., & Montagu, D. (2013). What is the role of informal healthcare providers in developing countries? A systematic review. PloS one, 8(2), e54978.

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