How Does Intangible Human Capital Impact Economic Growth in Less
Developed Countries: Cambodia as a Case Study
By
Sovathana Sokhom
@copyright. Sovathana Sokhom. 2012
i
Abstract
This study is an attempt to further the understanding of how intangible human capital
impacts development and economic growth in less developed countries (LDCs). Under the
discipline of economics, a fundamental assumption is that resources (land, labor, and capital) are
scarce. In the growth accounting of neoclassical economics, human capital contributes to
economic growth through the mechanism of technological progress. In 1957, Solow introduced
the growth model and others proceeded to measure US economic growth through Total Factor
Productivity (TFP). Within the TFP model, 1.1% out of an average 3.1% GDP of annual growth
remains unexplained (Jones, p. 42). Recently, some economic scholars identified a positive
correlation between human capital and social capital that significantly impacts development and
economic growth. This sheds some light on and acknowledges that intangible human capital can
contribute to economic growth. Psychological methods have been employed to measure “selfesteem and motivation,” while political efficacy and trust have been measured within political
economy as part of intangible capital. This study hopes to further explain economic growth by
demonstrating the contribution of intangible human capital to development and economic growth
in lesser developed countries. Using the t-test as a method with the total sample of N=272 to
compare the means between control (n=133) and treatment (n=139) the results indicate a
statistically significant difference between the mean of the control groups and the treatment
groups (t= 4.1163, p=.0001). In other words, the result show that the intervention significantly
increased self-esteem and motivation (with a treatment group mean of 4.899 compared to the
control group mean of 4.487).
ii
Chapter I: Introduction
Among the many factors contributing to economic growth in Less Developed Countries
(LDCs), and perhaps the least understood, are those associated with intangible human capital.
This research addresses the relationship between intangible human capital and economic growth
in LDCs by taking an interdisciplinary approach that pulls from psychology, political science and
economics. Drawing from psychology, I use an experimental design to examine differences
between control and treatment groups following a training intervention to better understand how
self-esteem and motivation that might impact economic growth. I draw from political science in
exploring the link between political trust – how citizens trust the political system and their
elected representatives -- and self-esteem motivation1 in individuals. I propose that political trust
acts as a glue to connect elements related to self-esteem from psychology to impact economic
growth. I hope that this study will contribute to understanding how self-esteem and motivation
economic growth impact LDCs such as Cambodia.
Least developed countries are the nations classified by the United Nations as exhibiting
the lowest levels of both socioeconomic and human development. We tend to think that foreign
aid can remedy violence and education can cure poverty, but we forget that things that are not as
easily measured as dollars spent and years of schooling contribute to what it means to be a whole
person. That part of human capital that is intangible human capital is missing in economic
analysis of economic growth. Education is the necessary condition to build human capital in
order to adapt to new technology, which contributes to economic growth, but it is not sufficient
to account for the elements of economic growth that contribute to generating an automatic motor
1
Intangible human capital in this study define as self-esteem and motivation, while in Organizational Behavior
(OB), define Intangible Human Capital (IHC) as the knowledge of a person has.
3
to create growth and drive societies out of the poverty trap. Societies and the individuals within
them need to be resilient to adapt and adjust to the environment, and break free from the static
stages of violence in order to integrate into market economy in the 21st century. These problems
are not unique to Cambodian alone. Approximately 730 million of the world’s population are
traumatized by recent histories of war and other forms of institutionalized violence (Collier,
2007).
The least developed countries are characterized by three criteria: persistent poverty; weak
human resources in terms of health, nutrition, literacy and other education measures; and
economic vulnerability to through either an undiversified economy or susceptibility to natural
disasters. Although LDCs tend to be concentrated in Africa, four nations in South East Asia
share this classification: Cambodia, Myanmar, East Timor and Laos. These four nations have
similar histories marred by factionalism and internal conflict after gaining independence after
WWII. The internal struggle for resources was paralleled by ideological conflict between
capitalism and communism – and the influence of the West versus the Eastern bloc – in the years
following independence. Among the South East Asian LDCs Cambodia experienced the most
extreme infernal conflict with the Khmer Rouge. As an LDC looking to move forward and
distance itself from its past struggles, Cambodia provides researchers with a unique opportunity
to examine the impact of individual and group psychological factors, such as motivation and
self-esteem, on economic growth.
Previous studies of economic growth show that it is affected by a number of factors
including education and life expectancy, fertility, government consumption, the rule of law,
inflation, and the terms of trade (Barro, 1996). Barro derived a modified growth method from an
extended version of the neoclassical growth model, in which the growth rate depends on the
4
initial level of output (y) and the target position of the government policy of y*, where y*
“depends on government policies and on household behavior” (Barro, 1996, p. i). In extending
Barro’s work, I attempt to quantify government policy using the likert scale from psychology to
demonstrate how self-esteem and motivation impact work effort that in turn effects economic
growth. Although there have been breakthroughs in research on growth across countries and
regions, but the standard framework for analysis remains based on the older neoclassical model
that includes government policies, accumulation of human capital, fertility decisions, and the
diffusion of technology.
The neoclassical model of exogenous growth developed by Solow (1956) and Swan
(1956) indicates that without technological progress, the effects of diminishing returns to scale
will eventually cause the cessation of economic growth. The foundation of economic growth
was built on the assumption that the aggregate production function (y) is based on constant
returns in labor and reproducible capital. Although prominent scholars in economics have
demonstrated a correlation between human capital and years of schooling (Barro 1996) and the
importance of technological progression (Solow and Swan 1956), recent scholars have paid little
attention and have overlooked the impact of intangible human capital impacts the economic
growth.
Zak and Knack (1998) showed that “low trust societies can be caught in a poverty trap”.
Thus, trust, self-esteem and motivation are significant as an endogenous values that contribute to
economic growth. While Zak and Knack look at the macro level in comparing 100 countries, my
study looks at the micro level using Cambodia as a case study to better understand if intervening
to increase self-esteem, and thus intrinsic motivation, and would increase trust and positively
impact economic growth. Scholars in psychology have shown that trust directly affects schooling
5
and the rule of law. The level of trust affects a population’s investment rate in education and
affects the development of laws that directly affect the growth rate (Bjoruskov, 2006, p.1).
In this study, I used a standard psychological instrument to measure self-esteem and
motivation to determine their importance as part of intangible human capital in a LDC. This
study examines the concept of “work effort” as part of intangible human capital and its
connection to self-esteem and motivation as well as the concept of trust on the part of the general
public in the laws impacting economic growth.
The contribution of intangible human capital in LDCs is not well understood. Scholars
have shown very little interest in human capital as a component of economic growth in LDCs.
By contrast, in European countries and the United States, an array of studies has measured
intangible human capital. According to Ark et al (2009) “intangible capital explains about a
quarter of labor-productivity growth in the US and larger countries of the EU” (p. 62). Solow
(1957) looked at the evolution of contributions to economic growth to show how technology and
the knowledge base contribute to economic growth. These findings emphasize the importance of
intangible capital and general knowledge to economic growth.
Human capital is one of three major factors economists use in explaining economic
growth. In the field of political science, institutions, good governance, protection of human
rights, property rights, and promotion of democracy are shown to be major contributors to
economic growth (Feng, 2003). These factors create a more conducive environment for
attracting Foreign Direct Investment (FDI) that creates jobs leading to economic growth in
LDCs. The majority of scholars assume that LDCs have an abundance of uneducated workers
and low cost labor. This kind of environment lends itself to labor-intensive industries, such as
garment industries in LDCs.
6
The field of economics assumes that resources are scarce, and asks how best to allocate
those resources in order to maximize efficiency and promote economic growth. Human capital in
LDCs should likewise be considered a resource that must be allocated efficiently. For example,
environmental economics assumes that natural resources such as oil, forests, iron, and coal mines
are scarce. Why do we assume there is a limitless supply of human capital in LDCs? We can no
longer afford to assume that human capital and human resources are efficiently utilized in LDCs.
My study will show how social capital can increase by increasing motivation in
individuals and this in turn leads to increase political trust science depending on formal and
informal institutions within which people interact and cooperate. Low levels of trust within a
society leads to high transaction costs. High levels of trust minimize transaction costs among
economic agents in the free market economy (Knack and Keefer, 1997). Increased motivation
creates trust. Increased trust leads to an increase in economics activities that in turn can improve
economic performance. Increased economic performance efficiently utilizes social capital and
creates economic growth.
To understand the efficiency of human capital in LDCs, this research will draw from
theories and applications from economics, political science, and psychology in exploring how
intangible human capital impacts development in LDCs.
The Purpose of this Study
In the field of economics, there is still a struggle to account for the Total Factors of
Production (TFP) in which 1.1% out of an average 3.1% of annual GDP growth remains
unexplained (Jones, 1956). This is especially important given specific findings that show only
education and technology strongly predict economic growth (Barro, 1996; Solow, and Swan,
1956).
7
In economics, interpersonal trust has been shown as a strong indicator of poverty and
overall economic wellbeing within a society (Zak and Knack, 2001). Interpersonal trust also
offers a solution to collective action problems (Ahn and Ostron, 2003).
In political science, political efficacy is used as an indicator to determine the extent that
people participate in electing their representatives. The study of political efficacy is nothing
new; it has been around since the 1950s as a central concept in contemporary theories of
democratic politics (Acock et al. 1985; Almond and Verba 1963; Macpherson 1977; Pateman
1970). Political efficacy is considered a primary indicator in predicting and evaluating the extent
individuals are politically active in selecting their governments (Acock et al. 1985; Finkel, 1987;
Wang and Wang 2007). In democratic countries, the citizens that shape what governments do.
Ideally, the people hold the key to power in electing those they trust into the office. The more
politically efficacious the population, the greater impact they have on the political process of
government.
Because of its importance as a major indicator of poverty and economic well being as
well as political efficacy, it is critical that we include ‘trust’ as an aspect of intangible human
capital. Psychology has divided human capital into two major components: tangible and
intangible (David, 2001). Because Psychology has a well-defined concept of human capital, I
used a standard survey instrument in psychology to measure key learning factors associated with
self-esteem and motivation that may increase efficiency in intangible human capital and thus
affect development and economic growth. According to Pinder (1998), self-esteem and
motivation, are a set of energetic forces both originating within individuals to move them to act.
The self-esteem of individuals influences work-related behavior and determines the direction,
intensity and duration of that action (Pinder, 1998, p. 11).
8
My goal is to discover ways to empirically understand the effects of self-esteem,
motivation, and trust/political efficacy on the 1.1% of TFP out of the average of 3.1% of annual
GDP growth. This research involves administering a lesson to enhance self-esteem and
motivation and measuring that lesson’s effects. This research contributes not only to
understanding the impact of self-esteem, motivation, and trust/political efficacy on economic
growth in LDCs, but will also provide policy makers with an additional approach to promoting
economic growth that is complements increasing investment in education and technology.
Research Question
Studies have found that intangible human capital is a critical aspect of economic
development in capitalist societies, but to date no studies have identified the role of intangible
human capital in LDCs with shorter histories of capitalism. Studies have also found that targeted
training in goal setting, problem-solving, and leadership can enhance intangible human capital.
In order to see if self-esteem and motivation correlate with economic growth, I collected
experimental data on training focused on self-esteem and motivation and measured how the
training impacted individuals in activities leading to economic growth. Further, in order to
determine whether self-esteem and motivation have a statistically significant impact on political
efficacy, I surveyed participants who received the training.
Hypothesis
The major hypothesis of this study states that after self-esteem and motivation training
participants will exhibit an increased self-esteem and motivation as measured by the survey
when compared to participants who did not receive the training. The secondary hypothesis
relates to the impact of self-esteem training on the perceptions of participants on their ability to
operate within their political environment, and tests whether increasing self-esteem promotes
9
enhanced perceptions of political agency. Demographic variables were included in the survey to
identify potential mechanisms supporting this change in self-esteem and motivation.
Summation of the findings
My research confirms the hypothesis that self-esteem and motivation training
significantly increased the level of self-esteem and motivation among participants in this study.
My findings mirror of the results found by the Department of Public Social Services (DPSS) of
Los Angeles. I found that the intervention of self-esteem and motivation training significantly
increased self-esteem and motivation as determined by the survey. The increase in belief and
trust in oneself also enhanced perceptions of individuals as political agents with a voice within
the political system. . Among the citizenry, this can lead to trust in oneself in performing
activities with and for others – whether electing government or starting a business. Thus, at the
aggregate level, an increase in self-esteem and motivation can lead to increases in overall
economic activity and political efficacy that in turn enhance economic growth.
10
Chapter II: Results
This chapter presents the results of this study.
Hypotheses:
The primary hypothesis addresses the impact of self-esteem training on the sample studied.
Ho: The training will have no significant impact on increasing the self-esteem and
motivation in the treatment group.
This null hypothesis is tested against the alternative:
H1: The training has significant impact on increasing the self-esteem and motivation
within the treatment group.
The secondary hypothesis examines possible effect of self esteem training on political efficacy
on the sample studied.
H1: The training will have no significant impact on increasing political efficacy in the
treatment groups.
The null hypothesis will be tested against alternative:
H0: the training has significant impact on increasing political efficacy in the treatment
groups.
Motivation and Self-Esteem
The six self-esteem building blocks of self-esteem outlined in Table 4, are significantly
correlated as shown in Table 5.
11
Table 5: Correlations between the Self-Esteem Building Blocks
ALL
Confidence
Pearson Corr
Sig. (2-tailed)
N
Competence
Pearson Corr
Sig. (2-tailed)
N
Control
Pearson Corr
Sig. (2-tailed)
N
Initiative
Pearson Corr
Sig. (2-tailed)
N
Integrity
Pearson Corr
Sig. (2-tailed)
N
Intimacy
Pearson Corr
Sig. (2-tailed)
N
Self-esteem
Pearson Corr
Sig. (2-tailed)
N
Confidence
Competence
Control
Initiative
Integrity
Intimacy
*
.269**
.000
265
.345**
.000
265
.190**
.002
265
.405**
.000
265
.217**
.000
265
.563**
.000
265
.
.262**
.000
265
.557**
.000
265
.329**
.000
265
.451**
.000
265
.713**
.000
265
.245**
.000
265
.300**
.000
265
.279**
.000
265
.560**
.000
265
.245**
.000
265
.426**
.000
265
.736**
.000
265
.352**
.000
265
.640**
.000
265
.687**
.000
265
Because of these significant correlations, the comparison of self-esteem in the control and
treatment groups will concentrate on the total self-esteem scores. Cronbach’s alpha for the six
building blocks for self-esteem for the control and treatment groups were 0.707 and 0.734
respectively. The results are included as appendix K and are similar for control and treatment
groups with two factors with eigen values above 1.0. However, since this research proposed that
the training would alter self-esteem, as expected, the factor loadings differed between the control
and treatment groups. For this reason, the aggregate self-esteem score was used in analysis.
In addition, when broken down by gender, Cronbach’s aIpha was 0.807 for men and
0.690 for women who participated in this study. When the sample was analyzed by gender, a
12
single factor had an eigen value over 1.0 and this factor accounted for 51.26% of the variance for
men. For women, two factors had eigen values exceeding 1.0, with the first accounting for
40.00% of the variance and a second factor accounting for an additional 18.55% of the variance.
While this suggests that the construct of self-esteem may vary by gender in this Cambodia
subsample, more detailed analysis of gender differences in the construction of self-esteem lies
beyond the scope of this dissertation.
Overall there were significant differences between the control and treatment groups
on each of the six building blocks except for integrity as shown in Table 6.
Table 6: Comparison of means between control and treatment groups for the building blocks of
self-esteem
Building Block
Confidence
Competence
Control
Initiative
Integrity
Intimacy
Control
3.88
5.06
4.47
5.24
4.31
4.21
Treatment
4.25
5.43
4.50
5.81
4.44
4.56
p-values
0.005
<0.001
0.009
<0.001
0.312
<0.001
This result is expected since the integrity score reflects attitudes and actions related to career
choice. Participants in this study had already made their career choices and were already
working in that career or were investing in education to achieve their career goals.
Self-esteem scores were relatively uniform for the control group. There were no
significant differences between the means of the total self-esteem scores for the subgroups in the
control condition. I ran t-tests on the total self-esteem scores for the total sample as well as the
subsamples drawn from different institutions. The results showed a statistically significant
13
difference in the mean scores between the control and treatment groups overall as outlined in
table 7.
Table 7: The difference in esteem score of three groups between pre and post treatment of selfesteem and motivation sessions.
Groups
Group
Government
Departments
Subsamples
Control
Treatment p-values
Total
114.53
124.27
0.009**
All Civil Servants
115.63
125.62
0.002**
Council of Ministers
116.33
122.80
0.063*
Ministry of Women’s Affairs
112.85
127.19
0.028**
Senate
114.53
126.18
0.049**
NGOs
All NGO staff
115.08
120.14
0.113
DC-CAM
115.20
118.69
0.503
Human Rights
114.90
112.20
0.298
University
All University Students
113.40
124.93
<0.001**
Teacher Training Center (RTT)
110.83
124.86
<0.001**
University of Cambodia (UC)
116.07
125.04
0.043**
Note: * at 0.10 error term, the result is statistically significant at 90% confidence. ** at 0.05
error term, the result were statistically significant with 95% confidence.
Table 7 shows that the different groups of governmental ministries, NGOs, and university
students had different means within each group. The random sub-samples, included three
different Cambodian government ministries - the Council of Minister, the Ministry of Women’s
Affairs and the Senate. The means between control and treatment groups were significantly
different for the sub-samples from each of these departments, with the sample from Ministry of
Women’s Affairs showing the greatest difference.
There were two university students group, one from the University of Cambodia in
Phnom Penh and the Teacher Training Center from the city of Kompong Charm, which is the
second largest city in Cambodia. The result shows a statistically significant impact on the
treatment group with a p-value of less than 0.05. This shows that the intervention between the
control and treatment groups was statistically significant with a higher mean score associated
14
with the treatment. Like the civil service samples, the greatest difference was seen in the
institution with the highest proportion of women, the Teacher Training Center.
The results from the NGO groups were not statistically significant. This may in part be
due to the limited size of the sub-sample. To further investigate the impact of self-esteem
training on NGO staff, I ran t-tests on the self esteem building blocks outlined in Table 4 and
above in Table 7. Table 8 shows t-tests for the self-esteem building blocks for the NGO
participants.
Table 8: Differences in the Building Blocks for Self- Esteem for NGO control and
treatment groups
Building
Block
Confidence
Competence
Control
Initiative
Integrity
Intimacy
Control
Treatment
3.96
4.94
4.40
5.15
4.39
4.40
4.00
5.22
4.45
5.74
4.33
4.42
p-values
0.4847
0.1099
0.4232
0.0086**
0.4092
0.4648
Initiative, the building block related to maintaining a sense of purpose was significantly different
between the control and treatment groups. Competence, the building block related to working in
groups was close to being significant. These two building blocks are related to more advanced
aspects of self-esteem – compared to time management and positive self-image.
I tested the means by gender to see whether the self-esteem and motivation training was
influenced by gender in the treatment and control groups. The result showed only a small
difference in average aggregate self-esteem scores between men and women in the treatment
group. Average for women in the treatment group was 123.85 for women compared with a
mean of 124.50 for men, which was not a statistically significant difference .
15
I also tested the difference in means of whether attending school or work impacted selfesteem and motivation training between the treatment and control groups. The self-esteem
means for Public Servants, NGO employees and students varied little as shown in table 8. The
control measure of attending school or work had no significant impact at the 5% threshold.
Political Efficacy
Unlike the self esteem scores, there were significant differences between political
efficacy2 in the control groups – with the NGO employees sampled testing significantly lower
(at the 0.05 threshold) than either the civil servants or university students. There was no
significant difference between the control groups of university students and civil servants
among those sampled. I tested the difference in means of political efficacy between the control
and treatment groups. Table 9 gives the results of these t-tests.
Table 9: Political Efficacy: t-tests of treatment vs control groups
Groups
Group
Government
Departments
NGOs
University
Subsamples
Total
All Civil Servants
Council of Ministers
Ministry of Women’s Affairs
Senate
All NGO staff
DC-CAM
Human Rights
All University Students
Teacher Training Center (RTT)
University of Cambodia (UC)
Control
4.21
4.25
4.38
4.17
4.19
3.84
3.97
3.65
4.35
4.57
4.11
Treatment
4.48
4.41
4.53
4.37
4.35
4.40
4.48
4.27
4.57
4.61
4.50
p-values
0.0018**
0.134
0.2327
0.246
0.160
0.0041**
0.0102**
0.0621*
0.0519**
0.3714
0.0492**
Cronbach’s alpha was 0.806 for the survey questions measuring political efficacy. Exploratory factor analysis on
the seventeen trust and political efficacy survey questions for the control sample (n=133) confirmed the emergence
two components reflecting of trust versus political efficacy in the survey questions asked. Political efficacy
accounted for 45.6% of the variance and trust accounted for a further 20.8% of the variance.
2
16
Overall the intervention of self-esteem and motivation training had a statistically significant
impact on political efficacy as shown in the elevation in the scores of the treatment group with
the p-value of .0018. As we breaking down to further analysis the subsamples, it showed that
only the NGOs and the University students were statistical significant, with those employed by
the government, or being trained for future employment by the government as teachers showing
no significant difference between control and treatment groups. This result suggests that those
with an employment relationship with the government, and training for future government
employment, may have preferences and other factors in their backgrounds that create high
levels of belief in government. For these people, political efficacy might compliment selfesteem, since belief in themselves and the impact of their actions might rely on the belief in the
government.
Figure 6: Percentage Change in Political Efficacy by Institutions
According to figure 7 both Non-Governmental Organization DC-CAM and Human Rights had
change of about 17 percent and 13 percent respectively. While TTC is change the least.
17
Figure 7: Political Efficacy Change by Gender between Control and Treatment Groups
According to figure 7, political efficacy for both men and had increased after the treatment, but
for men the increase was higher than for women. This may reflect the higher proportion of
men in the samples from the NGOs and from the University of Cambodia, and the higher
proportion of women in the Training College and public sector samples. This gender
difference may reflect the influence of government employment on political efficacy. It is
interesting to note that compared to the teacher trainees, none of the university students (who
were predominantly male, compared to the feamle tracher trainees) gave government
employment as a long-term goal.
18
Chapter III: Discussion
This chapter discusses the significant findings of this study. I first point out limitations in
interpreting results. Second, I discuss the implications of stretching the concept of intangible
human capital to explain that aspect of economic growth not accounted for by total factors of
production (TFP). Third, I suggest further research to foster a better understanding of how
intangible human capital – such as motivation and self-esteem – plays a significant role in the
economic growth of LDCs.
Summary of the Study
A fundamental assumption of economics is that resources (land, labor, and capital) are
scarce, but in many LDCs the majority multinational corporations tend to believe that human
capital is abundant and therefore establish labor intensive industries in these countries. Although
there may be abundant labor in LDCs, human capital is not fully utilized. In addition, scholars
have shown very little interest in considering human capital in less developed countries as a
scare resource. In European countries and the United States an array of studies have examined
and measured intangible human capital. According to Ark et al. (2009) “intangible capital
explains about a quarter of labor-productivity growth in the US and larger countries of the EU”
(p. 62).
Human capital is one of three major factors that explain productivity and economic
growth. Technology and human capital (based on years of school) have received major
emphasis within the field of economics as major contributions to economic growth. Within
political science institutions, good governance, the protection of human rights, property rights,
and promotion of democracy are major contributors to economic growth. These factors create a
more conducive environment to attract foreign direct investment (FDI) that can create jobs
19
leading to economic growth in LDCs. The majority of scholars assume that LDCs have an
abundance of uneducated workers and thus low labor costs. This kind of environment lends
itself to labor-intensive industries in LDCs, such as the garment industry.
Human capital in LDCs should likewise be considered a resource that must be allocated
efficiently. For example, environmental economics assumes that natural resources such as oil,
forest, iron, and even coal mines are scarce. Thus, in the economics field, should we continue to
assume that there is limitless supply of human capital? I beg to differ. In economics we cannot
assume that human resources are without bound in LDCs. This study sought answers to the
following questions:

Can intangible human capital in LDCs increase productivity efficiently?

Can the intervention of motivation and self-esteem training produce a significant
effect on individuals’ perceptions of their impact on their environment?

What are the demographic elements that influence motivation and self-esteem among
participants in this study drawn from the population of an LDC?
My hypotheses as stated earlier addressed the impact of self esteem and motivation training on
self-esteem and political efficacy scores on participants who received training.
The primary hypothesis was::
Ho: The intervention of the self-esteem and motivation has no significant impact on
increasing the self-esteem and motivation of the treatment groups.
H1: The intervention of the self-esteem and motivation has significant impact on
increasing the self-esteem and motivation of the treatment groups.
With a p value of 0.0001 I conclude that the evidence suggests that it is not true that
people participating in the treatment group had little self-esteem and motivation to perform
20
their daily tasks. Thus the results led me to reject the null hypothesis Ho and to accept
alternative H1 hypothesis. Participants in the treatment group already had motivation and selfesteem to perform their daily task with average mean of 87 score. The intervention of selfesteem and motivation training showed that the intervention had a significant impact. The
results indicate that there is a significant difference between the mean of the control groups and
the treatment groups (t= 4.1163, p=.0001). In other words, this shows that the treatment groups
had significantly higher scores on average after receiving the self-esteem and motivation
training with the mean of (4.899) than the control group (mean 4.487).
The secondary hypothesis focused on political efficacy and the confidence felt by
individuals in operating within the larger political environment.
Ho: The training will have no significant impact on the group receiving self-esteem and
motivation training.
H1: the training has significant impact on increasing political efficacy in the treatment
groups.
Overall, the participants who received training on average scored higher on political efficacy
with a mean of 4.48 compared to the control group with a mean of 4.21. This difference was
significant with p < 0.05.
Study Limitations
First, the scope of the study was limited due to time constraints and the limited
availability of the participants. Individuals who participated in this study were volunteers. The
sample size of 272 participants was relatively small due to budget and time constraints. With
this study I made a design choice to limit my sampling to civil servants, NGO employees and
21
college students. This ensured I had a sample who were literate and could follow written
instructions in either Khmer or English. Using written training material and survey instruments
reflects a major limitation of this study, as I was constrained to using subjects with high levels
of literacy. Apart from considerations of the ease and cost of data collection, it would have
been difficult to ensure my safety travelling through rural areas to collect data. The decision to
sample an educated, urban population for this study reflects the importance of an emerging
middle class in generating economic growth. The legacy of violence and trauma among the
Cambodian people extends to the elites and educated professionals. Since these are the people
who will be shaping policy implementation and innovating in business, this group may have
greater impact on economic growth than those working at low-skilled manufacturing and
agricultural jobs.
Using convenience sampling could introduce bias in addition to self-selection bias of
participants. I chose NGO staff and university students as representing a non-governmental
orientation. The NGO groups I drew participasnts from are among those that have been most
critical of the government and the Khmer Rouge in addressing Cambodia’s painful history.
The university students who participated all indicated that their career goals were either private
sector employment or running their own business. I did not try to sample entrepreneurs or
those working in the private sector, because of difficulty gaining employer permission to recruit
employees and because, unlike the institutions I sampled from, there was no comparable
centralized source for recruiting private sector employees with similar levels of education.
The 10 keys of self-esteem and motivation were adapted to local conditions and adjusted to
the economic Cambodian environment (see Appendix E). Since self-esteem and motivation are
new concepts in Cambodia and it was the first time most participants had been involved in a
22
research study, I spent a lot of time explaining the basics in the training sessions. In addition,
Cambodian pictures were adapted in the flip chart that was using to train the participants. This
allowed the participants to relate the training to their daily lives.
Implications of this Study
What do the results of this study mean for understanding intangible human capital and
how it impacts growth in LDCs? It showed that the intervention of motivation and self-esteem
has a statistically significant impact on the treatment group. This finding that the intervention
of self-esteem and motivation training increased the self-esteem of participants leads to the
question of whether this effect was due to women being less aware of their capabilities and
strengths or whether men realize that their female counterparts are more capable of performing
the same tasks at work rather than remaining in the home. In Cambodia, there is the old saying
that women have to have the ability to complete the circle of the kitchen, which mean that
Cambodian culture stresses the importance of women’s domestic abilities in order to be fully
considered being a woman.
My assumption is that the political efficacy of the individual can help increase their
economic activities, eventually leading to economic growth. Thus, increasing motivation and
self-esteem should increase individuals’ ability to understand how the political condition has a
direct effect on their perception of their economic impact in a more democratic environment.
The result, of this study however showed that political efficacy in LDCs, especially in
Cambodia, plays no significant role between the control and treatment groups. The problems
of political efficacy plays no significant role in this study could arise from many different
sources. This result may be due to small sample size. Participants attended school or work,
which might mean that the training was crowded out by their education levels. For people who
23
had set a five years goal the intervention of self-esteem and motivation had a statistically
significant p=.008 at df=270. A surprising result was that having a mother who worked outside
the household had a weaker influence on the self-esteem and motivation than having a father
working outside the household. In contrast, having had a father who worked outside the house
has a strong influence on the self-esteem and motivation of participants with a p-value = .0447
(see table 5). This study did not support the assumption that having had a mother who worked
outside the house should have a significant influence on self-esteem and motivation. In higher
education, the intervention of self-esteem and motivation had no statistically significant impact
on participants. This could be due to the economic structure of Cambodia. In Cambodia,
employment prospects are not good regardless of education level. In addition, although
government jobs were attractive to the educators, having one did not produce a significant
impact on self-esteem and motivation. This may be because of the difficulty of obtaining such
a position without money or the right connections. Another reason could be because the
sample of the study was too small, making it difficult to capture the differences between the
control and treatment groups.
Further Study
Additional study could foster a better understanding of how intangible human capital
accumulated through self-esteem and motivation impacts productivity and economic growth in
LDCs. Most previous studies have been conducted in European countries examining global
self-esteem and how it impacts business organizations and increases corporate productivity.
Scholars have paid very little attention to how intangible human capital impacts economic
activities in less developed countries.
24
Given the importance of the role of the mother in determining the educational choices
for her children, the further examination of intangible human capital formation should examine
differences in intangible human capital by gender. I plan to conduct further analysis that will
guide the extension of this research. In the 1980s, the UN believed that promoting education in
LDCs was the answer to lagging economic growth. A decade later, over 40 countries remain
classified as LDCs, only two have moved from the LDCs classification to be considered
transition economics. The positive result of moving people dependent on government
programs of Temporary Assistance to Needy Family (TANF) in California off government
assistance after providing them with self-esteem and motivation training, gave me the idea of
applying these concepts in the context of LDCs in examining their impact on economic growth
through intangible human capital. This preliminary study with the random sample of 272
participants demonstrated that the intervention of self-esteem and motivation had a statistically
significant impact. Thus, this is the first study of its kind to explore how self-esteem and
motivation contributes to intangible human capital that can lead to economic growth at the
aggregate level. For future study, I would like to replicate this study with a larger sample. In
addition, I would like to carry out the study at the provincial level in Cambodia. I believe this
is the beginning of approaching economic development from the holistic standpoint of country
development and economic growth in order to improve the living standards of the people.
25
References
2002 budget address: "building confidence for sustained growth". (2001). Suva, Fiji: Ministry
for Finance and National Planning.
Abramson, P. R. (1977). The political socialization of Black Americans: a critical evaluation of
research on efficacy and trust. New York: Free Press.
Aghion, P., & Howitt, P. (0). Endogenous Growth Theory. The MIT Press, n/a, 1-49.
Almond, G. A., & Verba, S. (1963). The civic culture: political attitudes and democracy in five
nations. Princeton, N.J.: Princeton University Press.
Almond, G. A., & Verba, S. (197071). Almond and Verba five nation study. Hanover, N.H.:
Dartmouth College].
Almond, G. A., & Verba, S. (1989). The civic culture revisited ([New ed.). Newbury Park, Calif.:
Sage Publications.
Arena, R., & Festre̕, A. (2006). Knowledge, beliefs and economics. Northamption, UK:
Edward Elgar.
Barro, R. J. (1991). Economic Growth in a Cross Section of Countries. Cambridge, Mass.:
National Bureau of Economic Research.
Barro, R. J., & Martin, X. (1995). Economic growth. New York: McGraw-Hill.
Barro, R. J., & Martin, X. (1995). Economic growth. New York: McGraw-Hill.
Barro, R. J., & Lee, J. (2002). IMF programs: who is chosen and what are the effects?.
Cambridge, MA.: National Bureau of Economic Research.
Baumeister, R. F. (1993). Self-esteem: the puzzle of low self-regard. New York: Plenum Press.
Baumeister, R. F. (2003). Does high self-esteem cause better performance, interpersonal succes,
happiness, or healthier lifestyles?. Malden: Blackwell Publ.
26
Becker, B. E., Huselid, M. A., & Ulrich, D. (2001). The HR scorecard: linking people, strategy,
and performance. Boston, MA: Harvard Business School Press.
Becker, G. S. (1994). An Empirical Analysis of Cigarette Addiction. New York: National Bureau
Of Economic Research.
Becker, G. S. (1971). The economics of discrimination (2d ed.). Chicago: University Of Chicago
Press.
Becker, R., & Burmeister, E. (1991). Growth theory. Aldershot, Hants, England: E. Elgar.
Benhabib, J., & Spiegel, M. M. (1994). The Role of Human Capital in Economic Development.
Journal of Monetary Economics, 34, 143-173.
Boianovsky, M., & Hoover, K. D. (2009). Robert Solow and the development of growth
economics. Durham: Duke University Press.
Boianovsky, M., & Hoover, K. D. (2009). Robert Solow and the development of growth
economics. Durham: Duke University Press.
Boianovsky, M., & Hoover, K. D. (2009). Robert Solow and the development of growth
economics. Durham: Duke University Press.
Boianovsky, M., & Hoover, K. D. (2009). Robert Solow and the development of growth
economics. Durham: Duke University Press.
Boyer, R. (2004). The future of economic growth as new becomes old. Cheltenham, UK: E.
Elgar.
Brown, J. D., & Earle, J. S. (2004). What makes small firms grow? finance, human capital,
technical assistance, and the business environment in Romania. Bonn, Germany: IZA.
Burmeister, E., & Dobell, R. (1970). Mathematical theories of economic growth. New York:
Macmillan.
27
Burmeister, E., & Dobell, R. (1970). Mathematical theories of economic growth. New York:
Macmillan.
Chung, S. (1973). The political socialization of selected elementary and middle school students
in the Republic of Korea: political knowledge, political trust and political efficacy.
Korea: n/a.
Ciccone, A., & Papaioannou, E. (2005). Human capital, the structure of production, and growth.
London: Centre for Economic Policy Research.
Cohen, D., & Soto, M. (2001). Growth and human capital: good data, good results. London:
Centre for Economic Policy Research.
Cohen, D., & Soto, M. (2002). Why are poor countries poor?: a message of hope which involves
the resolution of a Becker/Lucas Paradox. London: Centre for Economic Policy
Research.
Colberg, M. R. (1965). Human capital in southern development, 1939-1963.. Chapel Hill: Univ.
of North Carolina Press.
Conrad, D. A. (2007). Education, Human Capital Accumulation and Economic Growth: The
Caribbean Experience. A Dissertation Submitted to The Faculty of the Department of
Economics, May, 1-98.
Corrado, C., R., H. C., & Sichel, D. E. (2006). Intangible Capital and Economic Growth.. NBER
Working Paper., No. 11948. Retrieved November 16, 2011, from 9999
Corrado, C., Hulten, C., & Sichel, D. (2009). Intangible Capital and U.S. Economic Growth. The
Review of Income and Weath, 55(3), 661-685.
Dasgupta, D., & Solow, R. M. (2005). Growth theory: Solow and his modern exponents. New
Delhi: Oxford University Press.
28
Davidson, E. P. (2007). Instinctive Turst Among Aristotle's Political Animals: A
Transdisciplinary Approach Identifying Why Political Science Should Incorporate
Biological Markers into The Discipline. PHD Dissertation, n/a(n/a), 1-134.
Dayringer, S. E. (1975). The effects of extrinsic reinforcement on intrinsic motivation: a test of
Deci's cognitive evaluation theory. Cortland, N.Y.: Dept. of Psychology, State
University of New York College at Cortland.
Deci, E. L., & Karn, H. W. (1972). Readings in industrial and organizational pscychology. New
York: McGraw-Hill.
Deci, E. L. (1972). Readings in industrial and organizational psychology. New York: McGrawHill.
Deci, E. L. (1975). Intrinsic motivation. New York: Plenum Press.
Deci, E. L. (1975). Intrinsic motivation /Edward L. Deci.. New York: Plenom Press.
Deci, E. L. (1975). Instrinsic motivation. .: ..
Dimand, R. W., & Spencer, B. J. (2008). Trevor Swan and the neoclassical growth model.
Cambridge, Mass.: National Bureau of Economic Research.
Dimand, R. W., & Spencer, B. J. (2008). Trevor Swan and the neoclassical growth model.
Cambridge, Mass.: National Bureau of Economic Research.
Dyne, L. V., & al, e. (2000). Collectivism, propensity to trust and self-esteem as predictors of
ornanizational citizenship in a non-work setting. Journal of Organizational Behavior,
n.a(n/a), 1-23.
Felipe, J., & McCombie, J. S. (2002). Why are some countries richer than others?: a
reassessment of Mankiw-Romer-Weil's test of the neoclassical growth model. Manila:
Asian Development Bank.
29
Feng, Y. (2003). Democracy, governance, and economic performance: theory and evidence.
Cambridge, Mass.: MIT Press.
Feng, Y. (2003). Democracy, governance, and economic performance: theory and evidence.
Cambridge, Mass.: MIT Press.
Finkel, D. (1987). The wake of the electron. New York: Atheneum.
Fukao, K., Miyagawa, T., Kentaro Mukai, Y. S., & Tonogi, K. (2009). Intangible Investment in
Japan: Measurement and Contribution To Economic Growth. The Review of Income and
Weath, 55(3), 717-736.
Gagne, M., & Deci, E. L. (2005). Self-determination theory and work motivation. Journal of
Organizational Behavior, 26, 331-362.
Giacalone, R. A., Jurkiewicz, C. L., & Dunn, C. (2005). Positive psychology in business ethics
and corporate responsibility. Greenwich, CT: Information Age Pub. Inc..
Gurkaynak, R. S. (2001). Is Growth Exogenous?: Taking Mankiw, Romer and Weil Seriously.
Cambridge, Mass.: National Bureau of Economic Research.
Gurkaynak, R. S. (2001). Is Growth Exogenous?: Taking Mankiw, Romer and Weil Seriously.
Cambridge, Mass.: National Bureau of Economic Research.
Gurkaynak, R. S. (2001). Is Growth Exogenous?: Taking Mankiw, Romer and Weil Seriously.
Cambridge, Mass.: National Bureau of Economic Research.
Hansen, G. D., & Prescott, E. C. (1998). Malthus to Solow. Cambridge, MA: National Bureau of
Economic Research.
Hardin, G. J. (1968). The Tragedy of the Commons. Washington, D.C.: American Association for
the Advancement of Science.
Hardin, R. (1982). Collective action. Baltimore: Published for Resources for the Future by the
30
Johns Hopkins University Press.
Hardin, R. (2006). Trust. Cambridge, U.K.: Polity.
Herpen, M. v., & Praag, C. M. (2003). The effects of performance measurement and
compensation on motivation. Amsterdam: Tinbergen Institute.
Herzberg, F. (19711966). Work and the nature of man. New York: World Pub. Co..
Herzberg, G. (1971). The spectra and structures of simple free radicals: an introd. to molecular
spectroscopy.. Ithaca: Cornell Univ. Press.
Hornbeck, D. W., & Salamon, L. M. (1991). Human capital and America's future: an economic
strategy for the '90s. Baltimore: Johns Hopkins University Press.
Intransic Motivation. (n.d.). .http://giftedkids.about.com/od/glossary/g/intrinsic.htm. Retrieved
November 12, 2011, from .http://giftedkids.about.com/od/glossary/g/intrinsic.htm
Jones, C. I. (1996). Human Capital, Ideas, and Economic Growth. Center for Economic Policy
Research at Stanford and The National Science Foundation, (SBR-9510916, 1-28.
Retrieved November 15, 2011, from 9999
Jones, C. I. (1998). Introduction to economic growth. New York: W.W. Norton.
Jones, K., & Pan, A. (2005). CultureShock!. Singapore: Marshall Cavendish Editions ;.
Katz, P. P. (2004). The effect of increased ownership on student performance and motivation in a
physical education setting. .: ..
Keefer, P., & Knack, S. F. (2002). Social polarization, political institutions, and country
creditworthiness. Washington, D.C.: World Bank, Development Research Group,
Investment Climate Team, and Public Services Team.
Kendrick, J. (1961). Productivity trends in the United States. Massacusette: Princeton University
Press..
31
Knack, S. (2001). Building trust: public policy, interpersonal trust and economic development. .:
Knack, S. (2003). Democracy, governance, and growth. Ann Arbor, MI: University of Michigan
Press.
Knack, S. F., & Park, M. (2003). Democracy, governance, and growth. Ann Arbor: University of
Michigan Press.
Knack, S. F., & Park, M. (2003). Democracy, governance, and growth. Ann Arbor: University of
Michigan Press.
Kaufmann D., A. Kraay, and M. Mastruzzi (2010), The Worldwide Governance Indicators:
Methodology and Analytical Issues.
Lawler, E. E., & Mohrman, S. A. (2003). Creating a strategic human resources organization an
assessment of trends and new directions. Stanford, Calif.: Stanford University Press.
Lawler, E. E., Boudreau, J. W., Mohrman, S. A., Mark, A. Y., Neilson, B., & Osganian, N.
(2006). Achieving strategic excellence: an assessment of human resource organizations.
Stanford, Calif.: Stanford Business Books, an imprint of Stanford University Press.
Lawler, E. E., Boudreau, J. W., Mohrman, S. A., Mark, A. Y., Neilson, B., & Osganian, N.
(2006). Achieving strategic excellence: an assessment of human resource organizations.
Stanford, Calif.: Stanford Business Books, an imprint of Stanford University Press.
Loewenstein, G., Read, D., & Baumeister, R. F. (2003). Time and decision: economic and
psychological perspectives on intertemporal choice. New York: Russell Sage
Foundation.
Macpherson, C. B. (1962). The political theory of possessive individualism: Hobbes to Locke.
32
Oxford: Clarendon Press.
Macpherson, C. B. (1962). The political theory of possessive individualism: Hobbes to Locke.
Oxford: Clarendon Press.
Madsen, D. K. (1973). The sense of political efficacy in India: an exploration in political
psychology. India: n/a.
Manderlink, G. (2006). Proximal v distal goal setting and intrinsic motivation. .: ..
Mankiw, N. G., Romer, D. H., & Weil, D. N. (1992). A Contribution to the Empirics of
Economic Growth. Cambridge, Mass.: National Bureau of Economic Research.
Mankiw, N. G. (2011). Brief principles of macroeconomics (6th ed.). Mason, Ohio: SouthWestern ;.
Mankiw, N. G., Kneebone, R. D., & McKenzie, K. J. (2011). Principles of macroeconomics (5th
Canadian ed.). Toronto: Nelson Education.
Maslow, A. H. (1968). Toward a psychology of being (2d ed.). Princeton, N.J.: Van Nostrand.
Maurer, R. (1995). Trade policy, the price of capital goods and economic growth: an empirical
test of a Solow-Swan model with capital variety. Kiel: Inst. for World Economics.
Merolla, J. L., & Zechmeister, E. J. (2009). Democracy at risk: how terrorist threats affect the
public. Chicago: University of Chicago Press.
Merolla, J. L., & Zechmeister, E. J. (2009). Democracy at risk. Chicago, Ill.: The University of
Chicago Press.
Mokyr, J. (1985). The Economics of the Industrial Revolution. Totowa, NJ: Rowman &
Allanheld.
Nafukho, F. M., Hairston, N., & Brooks, K. (2004). Human Capital Theory: Implications for
Human Resource Development,. Fayetteville, AR: Mack-Blackwell National Rural
33
Transportation Study Center, University of Arkansas ;.
Niemi, R. G., Craig, S. C., & Mattei, F. (n.d.). Measuring Internal Political Efficacy in the 1988
National Election Study. www.jstor.org/stable/1963953. Retrieved November 12, 2011,
from www. jstor.org/stable/1963958
Ohtaki, R., & Umezu, H. (2010). Fundamentals of human capital management for Asian global
companies. Singapore: Marshall Cavendish Business.
Ott, J. S. (1996). Classic readings in organizational behavior (2nd ed.). Belmont: Wadsworth
Pub. Co..
Pateman, C. (1970). Participation and democratic theory. n/a: n/a.
Pateman, C. (1970). Recent theories of democracy and the 'classical myth'. Cambridge:
Cambridge University Press.
Pateman, C. (1970). Participation and democratic theory. Cambridge [England: Cambridge
University Press.
Pateman, C. (1970). Participation and democratic theory. Cambridge [England: Cambridge
University Press.
Paul, Z., & Stephen, K. (1998). Trust and Growth. Not published, n/a, 1-38.
Pinder, C. C. (1998). Work motivation in organizational behavior. Upper Saddle River, N.J.:
Prentice Hall.
Pinder, C. C. (1998). Work motivation in organizational behavior. Upper Saddle River, N.J.:
Prentice Hall.
Pinder, C. C. (1998). Work motivation in organizational behavior. Upper Saddle River, N.J.:
Prentice Hall.
Pinder, D. (1998). The new Europe economy, society, and environment. Chichester: Wiley.
34
Pinder, D. (1998). The new Europe economy, society, and environment. Chichester: Wiley.
Putnam, R. D. (2000). Bowling alone: the collapse and revival of American community. New
York: Simon & Schuster.
Putnam, R. D. (2002). Democracies in flux: the evolution of social capital in contemporary
society. Oxford: Oxford University Press.
Renshon, S. A. (1974). Psychological needs and political behavior: a theory of personality and
political efficacy.. New York: Free Press.
Robinson, J. P., Shaver, P. R., & Wrightsman, L. S. (1999). Measures of political attitudes. San
Diego: Academic Press.
Sabir, M., & Aftab, Z. (2006). Province-Wise Growth Patterns in Human Capital Accumulation.
The Pakstan Development Review, 45(4 part II), pp. 873-890.
Sansone, C., Manderlink, G., & Harackiewicz, J. M. (1982). Competence Information and
Intrinsic Motivation: a Process Approach. Washington D.C.: ERIC.
Sansone, C., Manderlink, G., & Harackiewicz, J. M. (1982). Competence Information and
Intrinsic Motivation: a Process Approach. Washington D.C.: ERIC.
Sansone, C., Manderlink, G., & Harackiewicz, J. M. (1982). Competence Information and
Intrinsic Motivation: a Process Approach. Washington D.C.: ERIC.
Sansone, C. (1984). The effects of competence and task feedback on intrinsic interest. .: ..
Smelser, N. J. (1989). Handbook of sociology (2. print. ed.). Newbury Park, Calif. [u.a.: Sage
Publ..
Soden, D. L. (1988). The tragedy of the commons: twenty years of policy literature, 1968-1988.
Monticello, Ill.: Vance Bibliographies.
Solow, R. M. (1956). A contribution to the theory of economic growth. Oxford: Oxford
35
University Press.
Solow, R. M. (1963). Capital theory and the rate of return,. Amsterdam: North-Holland Pub.
Co..
Solow, R. M. (1997). Learning from "learning by doing": lessons for economic growth.
Stanford, Calif.: Stanford University Press.
Solow, R. M. (2000). Growth theory: an exposition (2nd ed.). New York: Oxford University
Press.
Solow, R. M. (2001). Landmark papers in economic growth. Cheltenham, UK: Edward Elgar
Pub..
Solow, R. M. (2001). Landmark papers in economic growth. Cheltenham, UK: Edward Elgar
Pub..
Spector, A. (2006). Making a difference: an evidence-based group programme to offer cognitive
stimulation therapy (CST) to people with dementia : the manual for group leaders.
London: The Journal for Dementia Care.
Spector, P. E. (2006). Industrial and organizational psychology: research and practice (4th ed.).
Hoboken, NJ: J. Wiley & Sons.
Spencer, B. J. (2008). Trevor Swan And The Neoclassical Growth Model. Cambridge, Mass.:
National Bureau of Economic Research.
Stiglitz, J. E., & Uzawa, H. (1969). Readings in the modern theory of economic growth.
Cambridge, Mass.: M.I.T. Press.
Swan, N. (1978). Growth and unemployment in eastern Canada. Ottawa: Economic Council of
Canada.
Swanson, T. M. (1996). The economics of environmental degradation: tragedy for the
36
Commons?. Cheltenham, U.K.: E. Elgar.
Vroom, V. H., & Deci, E. L. (1970). Management and motivation: selected reading..
Harmondsworth, Angleterre: Penguin.
Vroom, V. H. (1972). Management and motivation: selected readings (New printing. ed.).
Harmondsworth: Penguin.
Vroom, V. H., & Deci, E. L. (1972). Management and motivation (Repr. ed.). .: ..
Vroom, V. H. (1975). Management and motivation: selected readings (Reprint. ed.).
Harmondsworth: Penguin Education.
Vroom, V. H. (1964). Work and motivation. New York: Wiley.
Vroom, V. H., & Deci, E. L. (1970). Management and motivation: selected readings;.
Harmondsworth: Penguin.
Vroom, V. H., & Deci, E. L. (1970). Management and motivation: selected readings;.
Harmondsworth: Penguin.
Vroom, V. H., & Deci, E. L. (1972). Management and motivation: selected readings.
Harmondsworth: Penguin.
Vroom, V. H., & Deci, E. L. (1975). Management and motivation. .: ..
Vroom, V. H., & Deci, E. L. (1975). Management and motivation. .: ..
Vroon, P. A. (1972). Periodicities in human behavior: some procedural considerations. Utrecht:
Psychological Laboratory, University of Utrecht.
Walker, D. M. (2001). Human capital taking steps to meet current and emerging human capital
challenges : statement of David M. Walker, Comptroller General of the United States,
before the Subcommittee on Oversight of Government Management, Restructuring, and
the District of Co. Washington, D.C.: The Office.
37
Walker, D. M. (2001). Human capital building the information technology workforce to achieve
results. Washington, D.C.: U.S. General Accounting Office.
Walker, D. M. (2001). Human capital meeting the governmentwide high-risk challenge.
Washington, D.C.: U.S. General Accounting Office.
Walsh, T. M. (1968). Maslow's theory of motivation: a method for testing the constructs.
Wang, D., & Cai, F. (2007). Migration and poverty alleviation in China. Geneva: International
Organization for Migration.
Winch, C. (2000). Education, work, and social capital: towards a new conception of vocational
education. London: Routledge.
Winegar, R. M. (1990). The role of observer judgment in teacher evaluation: a comparison of
the relationship of two teacher evaluation plans to student achievement in reading.
Massacusette: Princeton University Press..
Zak, P., & Knack, S. (1998). Trust and Growth. Claremont: Unplublish paper. (Original work
published 1998)
Zak, P. J. (1999). Currency crises, monetary union and the conduct of monetary policy: a debate
among leading economists. Cheltenham, UK: E. Elgar Pub..
Zak, P. J. (2008). Moral markets: the critical role of values in the economy. Princeton: Princeton
University Press.
Zak, P. J., & Jensen, M. C. (2010). Moral Markets the Critical Role of Values in the Economy..
Princeton: Princeton University Press.
Zak, P. J., & Jensen, M. C. (2010). Moral Markets the Critical Role of Values in the Economy..
Princeton: Princeton University Press.
Zak, P. J. (2012). The moral molecule: the source of love and prosperity. New York: Dutton.
38
Zhang, W. (2005). Economic growth theory: capital, knowledge, and economic structures.
Aldershot, England: Ashgate.
39