|
|
| |
| The Role of Human Capital in Economic Growth of Pakistan |
Dr.Jangraiz Khan, Dr.Iftikhar Ahmad, Dr. Suleman Amin and Sajad Ali
|
Abstract:
The broad aim of this paper is to explore the human capital-economic growth relationship in Pakistan during the period 1971-2008. An augmented form of Cobb Douglas Production function has been used for this purpose. The study has used three different measures for human capital including education, health and R&D. Results from Johansen Cointegration test showed the existence of a long-run relationship in human capital and economic growth. Human capital in all forms education health and R&D affect economic growth while Real GDP per Capita and educational institutions affect school enrollment in the long run. The results further demonstrate that Real GDP, Education and health institutions influence health in the long run. Similarly, Real GDP per Capita, education, and Educational institutions appeared as the long-run determinants of R&D in Pakistan. The study recommended that education should be kept on top priority and resource allocation to education, health and R&D be increased.
|
|
|
| | |