The Impact of Human Development on the Standard of Living in Alleviating Poverty: Evidence from Africa

Abstract

The African Union 2030, 2063, and beyond strategic, focused on transformative economic growth and regional integration, empowering the populace and consolidating peace and society cannot be achieved without considering human development as synergies in elevating these policies. A large focus on empowering the populace through domestic credit can help this agenda be realized. For robustness sake, the researcher developed both subjective and objective measures to check the various relationships of the variable that helps to achieve the standard of living. Using data from the World Bank's development indicators and Human Development indicators from 1998 to 2017, the researcher examined human development reduces poverty. In this meta-analysis, the study empirically synthesizes a total of four African countries under study, fixed and random effects estimation, domestic credit and human development study find out these variables have a positive relationship of poverty which helps to improve the standard of living. The findings of this study have important implications for policy implementation and therefore, helps to improve the standard of living in the four countries under study.