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Economic Freedom Indicators and Higher Education Reforms: Evaluation and Planning Internationalization Process

Author

Listed:
  • Khalid Zaman

    (Department of Economics, University of Wah, Quaid Avenue, Wah Cantt, Pakistan)

  • Muhammad Qaiser Saleem

    (College of Computer Science and Information Technology, Al Baha University, Al Baha, Saudi Arabia,)

  • Mehboob Ahmad

    (Department of Management Sciences, Shaheed Zulfikar Ali Bhutto Institute of Science and Technology, Islamabad Campus, Pakistan,)

  • Aamir Khan

    (Department of Management Sciences, University of Wah, Quaid Avenue, Wah Cantt, Pakistan)

Abstract

This study contributes to the body of knowledge by measuring the effects of economic freedom indicators on higher education reforms in selected SAARC countries over a period of 1995-2012. The results show a strong linkage between economic freedom indicators and higher education,which support the internationalization policies of higher education institutions in the region. The results indicate that freedom from corruption increases higher education expenditures and literacy rate in Bangladesh, while trade freedom, financial development, property rights, and government spending have a positive impact on higher education expenditures and per capita gross domestic product in India, Nepal, Pakistan, and Sri Lanka. Property rights increases the higher education enrollment, higher education spending per student, and research and development (R and D) expenditures in Pakistan, while government spending in Sri Lanka has a positive relationship with the literacy rate and R and D expenditures. The results of panel fixed effect regression model confirm the importance of economic freedom indicators in higher education reforms in selected SAARC countries. The study concludes that economic freedom indicators enforce the need of higher education reforms, which is prerequisite for internationalization process across the globe.

Suggested Citation

  • Khalid Zaman & Muhammad Qaiser Saleem & Mehboob Ahmad & Aamir Khan, 2017. "Economic Freedom Indicators and Higher Education Reforms: Evaluation and Planning Internationalization Process," International Journal of Economics and Financial Issues, Econjournals, vol. 7(3), pages 152-160.
    • Handle: RePEc:eco:journ1:2017-03-21
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    References listed on IDEAS

    as
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    5. Compton, Ryan A. & Giedeman, Daniel C. & Hoover, Gary A., 2011. "Panel evidence on economic freedom and growth in the United States," European Journal of Political Economy, Elsevier, vol. 27(3), pages 423-435, September.
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    Cited by:

    1. Olalekan Charles Okunlola & Anthony E. Akinlo, 2021. "Does economic freedom enhance quality of life in Africa?," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 68(3), pages 357-387, September.
    2. Olalekan C. Okunlola & Olumide A. Ayetigbo, 2022. "Economic Freedom and Human Development in ECOWAS: Does Political-Institutional Strength Play a Role?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(3), pages 1751-1785, September.

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    More about this item

    Keywords

    Higher Education; Economic Freedom Indicators; Internationalization of Universities; SAARC Countries; Panel Fixed Effect Regression;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions

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