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Human Capital and Economic Growth: Time Series Evidence from Pakistan

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  • Faisal Sultan Qadri, Faisal
  • Dr. Abdul Waheed, Waheed

Abstract

Human capital is generally considered as a positive contributor in the economic growth. In this study, we estimate this relationship using time series data of Pakistan for the period 1978 to 2007. A health adjusted education indicator for human capital is used in the standard Cobb-Douglas production function confirms the long run positive relationship between human capital and the economic growth in Pakistan. A sensitivity analysis was also performed in order to check the robustness of the initial findings. The estimation results supported the findings of the previous studies that human capital is positively related to growth and also that the results are robust. The health adjusted education indicator was found to be a highly significant determinant of economic growth, which indicates that both the health and education sectors should be given special attention in order to ensure long run economic growth.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 30654.

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Date of creation: 2011
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Publication status: Published in Pakistan Business Review Jan 2011.1(2011): pp. 815-833
Handle: RePEc:pra:mprapa:30654

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Keywords: Human Capital; Economic Growth; Education and Health;

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  1. Gundlach, Erich, 1996. "Human capital and economic development: a macroeconomic assessment," Kiel Working Papers 778, Kiel Institute for the World Economy.
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