Human capital and economic growth: A macroeconomic model for Pakistan

Faisal Qadri and Abdul Waheed

Economic Modelling, 2014, vol. 42, issue C, 66-76

Abstract: The paper presents a small macro model for Pakistan economy focusing the impact of investment in human capital on the key macroeconomic variables. The demand side is modeled along the Keynesian lines while the supply side is modeled as per neoclassical theory of production. This framework allows analyzing the effects of investment in human capital on supply side variables (like labor, physical and human capital) and demand side variables (like consumption and investment) at the same time.

Keywords: Human capital; Economic growth; Education; Model construction and estimation (search for similar items in EconPapers)
JEL-codes: C51 E24 I20 O40 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (28)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:42:y:2014:i:c:p:66-76

DOI: 10.1016/j.econmod.2014.05.021

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