Human Capital and Economic Growth: Pakistan, 1960-2003
AbstractThis paper investigates the relationship between human capital and economic growth in Pakistan with time series data. Estimated with the Johansen (1991) approach, the aggregate production function rejects one version of the endogenous growth formulation. But the fitted model indicates that the output elasticity of human capital may be expected to increase with foreign technical progress. Higher productivity of secondary schooling than in OECD economies is consistent with the low levels so far attained in Pakistan. High returns to health spending compare very favourably with industrial investment. Human capital is estimated to have accounted for just under one fifth of the increase in GDP per head, a figure that is probably biased downwards because of the unmeasured dimensions of human capital.
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Bibliographic InfoPaper provided by Cardiff University, Cardiff Business School, Economics Section in its series Cardiff Economics Working Papers with number E2007/22.
Length: 22 pages
Date of creation: Jul 2007
Date of revision: Dec 2007
Publication status: Published in The Lahore Journal of Economics , (2008), Vol. 13, No.1, 1-27.
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Web page: http://business.cardiff.ac.uk/research/academic-sections/economics/working-papers
More information through EDIRC
Human Capital; Economic Growth; Cointegration; Pakistan;
Other versions of this item:
- Qaisar Abbas & James Foreman-Peck, 2008. "Human Capital and Economic Growth: Pakistan, 1960-2003," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 13(1), pages 1-27, Jan-Jun.
- C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-07-27 (All new papers)
- NEP-CWA-2007-07-27 (Central & Western Asia)
- NEP-DEV-2007-07-27 (Development)
- NEP-EDU-2007-07-27 (Education)
- NEP-HRM-2007-07-27 (Human Capital & Human Resource Management)
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- Jalil, Abdul & Idrees, Muhammad, 2013. "Modeling the impact of education on the economic growth: Evidence from aggregated and disaggregated time series data of Pakistan," Economic Modelling, Elsevier, vol. 31(C), pages 383-388.
- Faisal Sultan Qadri, Faisal & Dr. Abdul Waheed, Waheed, 2011. "Human Capital and Economic Growth: Time Series Evidence from Pakistan," MPRA Paper 30654, University Library of Munich, Germany.
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