Influence of Human Capital on Economic Growth: A Comparative Analysis of Education Development in Kazakhstan, South Korea, Singapore and Malaysia

Abstract

This research paper aims to conduct a comparative analysis of human capital in Kazakhstan and South Korea, Singapore, and Malaysia. In 1997 the president of Kazakhstan announced in his "Program for Strategic Development of Kazakhstan until 2030" that the country by 2030 will be one of the developed countries in the world such as the “Asian Tigers” - South Korea, Singapore, and Malaysia. Thus, the research paper seeks to determine the level of economic development and human capital of Kazakhstan compared with those countries. The paper discusses the situation in South Korea, Singapore and Malaysia in order to find directions for economic improvements in Kazakhstan through developing human capital.  After reviewing the education development of Korea, Singapore and Malaysia and the state of the economy and education in Kazakhstan, it concluded that it is crucial for Kazakhstan to develop its human capital in order to turn the country into a diversified, highly productive economy and to reach its goal of joining the top-30 developed countries in the world.