An analysis of Human Development Index and Economic Growth. A Case Study of Pakistan

Muhammad Taqi (), Muhammad Ali, Sabiha Parveen (), Mehtab Babar () and Inam Makki Khan ()
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Muhammad Taqi: M Phil Economics, School of Economics, Bahauddin Zakaryia University, Multan, Pakistan
Sabiha Parveen: The Women University Multan, Pakistan
Mehtab Babar: Institute of Southern Punjab, Multan, Pakistan
Inam Makki Khan: Department of Business Administration, National University of Modern Language, Islamabad, Pakistan

iRASD Journal of Economics, 2021, vol. 3, issue 3, 261-271

Abstract: Economic growth is an important factor in the economic development of a country. There are some factors that can favor economic growth, namely human development. The level of human development in a country is reflected in the value of the Human Development Index (HDI). The growth rate of a country is measured by the value of its Gross Domestic Product (GDP) per capita. The influence of human power resources is shown in the value of HDI, which is able to influence the level of economic growth in the value of its GDP. This study examines the effect of HDI on economic growth in Pakistan during the period 1980–2018, measuring its economic growth in its GDP per capita. The result of this research indicated that each country had a strong and significant correlation between HDI and GDP. It is concluded that the level of HDI can affect the GDP per capita. On the one hand, rising levels of human development open up new avenues for economic growth. The causal relationship between economic growth and human development has become a mutually influential relationship. So, it is clear that human development in the country relates to the influence of economic growth, which is seen in per capita income (GDP per capita), which can be an indicator of welfare in the country.

Keywords: Human Development Index; Welfare; Economic Growth (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ani:irdjoe:v:3:y:2021:i:3:p:261-271

DOI: 10.52131/joe.2021.0303.0042

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