EVALUATING THE ROLE OF EDUCATION AND HUMAN CAPITAL IN POVERTY REDUCTION AND INCLUSIVE GROWTH IN SOUTH ASIA

Sicheng Li, Cemei Li, Mohammad Maruf Hasan (), Syed Moudud-Ul-Huq () and Robina Iram ()
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Sicheng Li: Guosen Securities, Shenzhen 518001, P. R. China2Tianjin University, Tianjin 300072, P. R. China
Cemei Li: Higher Vocational Department, Yunnan University of Business Management, AnNing District KunMing 650000, P. R. China
Mohammad Maruf Hasan: School of International Governance Innovation, Guangdong University of Foreign Studies, Guangzhou 510006, Guangdong, P. R. China
Syed Moudud-Ul-Huq: Department of Accounting, Mawlana Bhashani Science and Technology University, Tangail 1902, Bangladesh
Robina Iram: School of Finance and Economics, Jiangsu University, Zhenjiang, P. R. China

The Singapore Economic Review (SER), 2023, vol. 68, issue 04, 1323-1344

Abstract: Economic growth necessitates the development of human capital and education. It plays a critical and necessary role in the formulation of income distribution policies and alleviating poverty. This study investigates the relationship through ordinary least square (OLS), fully-modified OLS and dynamic OLS models using panel data from the South Asian Association for Regional Cooperation (SAARC) countries from 1990 to 2018. According to the findings, imbalance plays an important role in influencing poverty and concludes that the government should embrace procedures that help improve pay distribution to reduce poverty at the strategy level. Furthermore, the findings state that a bi-directional Granger causality exists between schooling and poverty. In terms of strategy, SAARC countries should continue to increase the proportion of sustainable energy used for financial development, thereby decreasing the use of fossil energy for environmental improvements. Additionally, this study shows that the association of pay disparity hoses the positive effect of financial development on poverty, and it supports the contention that the degree of imbalance reduces the impact of comprehensiveness. Pay disparity is now a critical determinant of poverty.

Keywords: Poverty reduction; economic growth; econometric estimation; SAARC; panel data analysis (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1142/S0217590821440069

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