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Part Sungkaew
Worawut Plumchit
Sakarin Yuphong


The purpose of this study was to investigate 1) the influence of the budgets for human capital development and promotion of industries that affect the prosperity and development of human capital in Thailand, and 2) establish a prediction equation for the budgets for human capital development and promotion of industries that affect the prosperity and development of human capital in the country. By using secondary data from 1960 to 2021 to conduct a quantitative analysis using the least squares method (OLS).

         The results found that 1) the budget for education, technology, and social development affected the change in real national income per capita and the human development index of a country. While the budget for public health spending and the budget for the promotion of industry affect the change in real gross national product per capita of a country. And 2) the prediction equation shows that human development budgets, such as education and technology budgets and social development budgets, increase by 1 million baht per year, increasing the prosperity in real per capita income by 0.256 baht and 2.66 baht respectively, and increase in human capital development in terms of the Human Development Index by 0.000000258 units and 0.000000843 units respectively. While the budget for human capital development for health promotion, such as the public health budget and the industrial promotion budget, is increased by 1 million baht per year, resulting in an increase prosperity in real GDP per capita of 0.675 baht and 12.20 baht, respectively.

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