Determinants of Economic Growth Under the Role of Human Capital

Muhammad Zahid Naeem and Wajid Alim
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Muhammad Zahid Naeem: Assistant Professor, Department of Economics, University of The Punjab, Pakistan
Wajid Alim: Assistant Professor, Lahore School of Accountancy and Finance, University of Lahore, Pakistan

Journal of Policy Research (JPR), 2021, vol. 7, issue 3, 87–104

Abstract: Pakistan is in the race of economic development like other developing countries. The government of Pakistan, like that of other developing countries would invest in human capital at the expense of its economic growth. This issue is more sensitive in nature, which is going to explored through the relationship between human capital and economic growth in case of panel of eleven (11) countries. This investigation is accomplished by using the panel data during the period 1992-2014. The gross domestic product (GDP) as the economic indicator and the investment, net secondary school enrollment, health expenditures, total labor force and life expectancy at birth as the human capital indicator. The panel econometrics tools like Panel Augmented Dickey Fuller (ADF) unit root test, Pooled OLS test, fixed effect test, redundant variable f-test and Hausman test are applied to investigate such relationship. The results derived by applying these panel econometrics tools show that there is a long term relationship between the real gross domestic product (GDP) and human capital in fixed effect OLS test.

Keywords: GDP; Human Capital; Life Expectancy; Investment (search for similar items in EconPapers)
JEL-codes: J17 J24 P33 (search for similar items in EconPapers)
Date: 2021
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