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<p>Human capital, encompassing education, skills, health, and experience, is a key driver of economic and social development. This study presents a comparative analysis of the socioeconomic conditions that influence human capital development in Montenegro, Thailand, Malaysia, and Indonesia from 2000 to 2023, utilising the Socioeconomic Capacity Index (SCI). The analysis combines (a) comparative statistical assessment of SCI and its four subindices, (b) trend-based projection of future SCI values using linear regression, and (c) Difference-in-Differences (DiD) analysis to examine the effects of the COVID-19 period on SCI dynamics. Results show substantial cross-country differences. Malaysia and Montenegro record the highest median SCI values (0.616 and 0.591), indicating stronger socioeconomic structures, while Indonesia’s lower median SCI (0.439) reflects challenges in education quality and productivity. Thailand’s median SCI (0.511) places it between the extremes. Subindex comparisons reveal that Malaysia leads in economic productivity (average score 0.68) and Montenegro performs strongest in health outcomes (median 0.92). Predictive modelling suggests that, under current trajectories, Malaysia and Montenegro could reach SCI levels above 0.8 by 2030, Thailand may approach approximately 0.76, whereas Indonesia may rise to around 0.64. Results indicate that a 15% improvement in education quality could generate a 10% increase in overall SCI. The analysis also incorporates the effects of the COVID-19 pandemic, identifying an average 5% decline in SCI across all four countries during 2020–2021, followed by partial post-pandemic recovery. The findings highlight persistent disparities in socioeconomic capacity and underscore the need for targeted, country-specific policy measures to strengthen human capital development in alignment with the Sustainable Development Goals.</p>

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The socioeconomic capacities driving human capital development: a comparative study across selected countries

  • 期刊论文

  • 出版模式：

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  • 发表日期：

    2026年4月29日

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  • Nataša Kovač,
  • Dragica Žugić,
  • Arlinah Abd Rashid,
  • Katarzyna Żmija

摘要

Human capital, encompassing education, skills, health, and experience, is a key driver of economic and social development. This study presents a comparative analysis of the socioeconomic conditions that influence human capital development in Montenegro, Thailand, Malaysia, and Indonesia from 2000 to 2023, utilising the Socioeconomic Capacity Index (SCI). The analysis combines (a) comparative statistical assessment of SCI and its four subindices, (b) trend-based projection of future SCI values using linear regression, and (c) Difference-in-Differences (DiD) analysis to examine the effects of the COVID-19 period on SCI dynamics. Results show substantial cross-country differences. Malaysia and Montenegro record the highest median SCI values (0.616 and 0.591), indicating stronger socioeconomic structures, while Indonesia’s lower median SCI (0.439) reflects challenges in education quality and productivity. Thailand’s median SCI (0.511) places it between the extremes. Subindex comparisons reveal that Malaysia leads in economic productivity (average score 0.68) and Montenegro performs strongest in health outcomes (median 0.92). Predictive modelling suggests that, under current trajectories, Malaysia and Montenegro could reach SCI levels above 0.8 by 2030, Thailand may approach approximately 0.76, whereas Indonesia may rise to around 0.64. Results indicate that a 15% improvement in education quality could generate a 10% increase in overall SCI. The analysis also incorporates the effects of the COVID-19 pandemic, identifying an average 5% decline in SCI across all four countries during 2020–2021, followed by partial post-pandemic recovery. The findings highlight persistent disparities in socioeconomic capacity and underscore the need for targeted, country-specific policy measures to strengthen human capital development in alignment with the Sustainable Development Goals.