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Impact of Higher Education on Economic Growth of Pakistan

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  • Aziz, Babar
  • Khan, Tasneem
  • Aziz, Shumaila
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    Abstract

    This paper investigates the returns of higher education on economic growth of Pakistan from 1972 to 2008 through the application of Cobb-Douglas production function. The prime objective of the study is to identify and establish a link between the higher education and economic growth of Pakistan. For this purpose the impact of higher education enrollment on economic growth is analyzed. An attempt is made, in this study, to analyze the educational trends, the strategies and challenges for higher educational and its role in overall development in the country. Furthermore, the study also delves that a well educated labor force appears to significantly affluence the economic growth. The research also provides some implications for the policy purpose to develop higher education so as to curb the use of expatriate manpower in different sectors of the economy.

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    File URL: http://mpra.ub.uni-muenchen.de/22912/
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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 22912.

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    Date of creation: 2008
    Date of revision: 2008
    Publication status: Published in Journal of Social Sciences and Humanities 2.6(2008): pp. 15-29
    Handle: RePEc:pra:mprapa:22912

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    Keywords: Education: Economic Growth: Cobb Douglas PF;

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    1. Gustav Ranis & Frances Stewart, 2001. "Growth and Human Development: Comparative Latin American Experience," Working Papers 826, Economic Growth Center, Yale University.
    2. Jean Luc De Meulemeester & Denis Rochat, 1995. "A causality analysis of the link between higher education and economic development," ULB Institutional Repository 2013/1573, ULB -- Universite Libre de Bruxelles.
    3. Akiomi Kitagawa & Ryo Horii & Koichi Futagami, 2003. "Availability of Higher Education and Long-Term Economic Growth," Discussion Papers in Economics and Business 03-14, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
    4. Mohsin S. Khan, 2005. "Human Capital and Economic Growth in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 44(4), pages 455-478.
    5. Rehme, Günther, 2006. "Education, Economic Growth and Measured Income Inequality," Darmstadt Discussion Papers in Economics 25519, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute of Economics (VWL).
    6. Rena, Ravinder, 2006. "Higher Education In Africa – A Case Of Eritrea," MPRA Paper 10580, University Library of Munich, Germany.
    7. Gupta, Manash Ranjan & Chakraborty, Bidisha, 2006. "Human Capital Accumulation and Endogenous Growth in a Dual Economy," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 47(2), pages 169-195, December.
    8. Timothy J. Bartik, . "Increasing the Economic Development Benefits of Higher Education in Michigan," Upjohn Working Papers and Journal Articles tjb2005jwd, W.E. Upjohn Institute for Employment Research.
    9. Compton Bourne & Anand Dass, 2003. "Private and Social Rates of Return to Higher Education in Science and Technology in a Caribbean Economy," Education Economics, Taylor & Francis Journals, vol. 11(1), pages 1-10.
    10. G Johnes, 2006. "Education and economic growth," Working Papers 577341, Lancaster University Management School, Economics Department.
    11. Lin, Tin-Chun, 2004. "The role of higher education in economic development: an empirical study of Taiwan case," Journal of Asian Economics, Elsevier, vol. 15(2), pages 355-371, April.
    12. Sanchez Losada, F., 1998. "On the Relationship Between Education and Growth," UFAE and IAE Working Papers 408.98, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    13. Siphambe, Happy Kufigwa, 2000. "Rates of return to education in Botswana," Economics of Education Review, Elsevier, vol. 19(3), pages 291-300, June.
    14. Kwabena Gyimah-Brempong & Oliver Paddison & Workie Mitiku, 2006. "Higher education and economic growth in Africa," Journal of Development Studies, Taylor & Francis Journals, vol. 42(3), pages 509-529.
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