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Becker & Mincerian Models of Human Capital for Pakistan: A Case Study of Islamabad

Author

Listed:
  • Nadia Asghar

    (Research Scholar in National Defence University, Pakistan)

  • Muhammad Waqas Chughtai

    (Research Scholar in National Defence University, Pakistan)

Abstract

Education is considered a key factor for of Human Capital formation which strengthens the society through skills, knowledge and as a result of that innovations take place. The Gary Becker and Mincer developed “Human Capital Model” which was based on relationship of income with level of education and experience. The present study investigates the effect of higher education and level experience on income of teaching staff of public sector educational institutes in Islamabad-Pakistan. There were 120 respondents randomly selected. The Ordinary Least Square (OLS) method was used to empirically examine the relationship among the variables. All coefficients of the variables found positively significant. The study concludes that increase in year of education and experience which ultimately increases income of the teaching staff. Therefore, the higher education plays a major role for enhancing income of teaching staffs of public sector educational institutes in Pakistan.

Suggested Citation

  • Nadia Asghar & Muhammad Waqas Chughtai, 2012. "Becker & Mincerian Models of Human Capital for Pakistan: A Case Study of Islamabad," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 8(6), pages 138-145, December.
    • Handle: RePEc:dug:actaec:y:2012:i:6:p:138-145
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    References listed on IDEAS

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    1. Sylwester, Kevin, 2002. "Can education expenditures reduce income inequality?," Economics of Education Review, Elsevier, vol. 21(1), pages 43-52, February.
    2. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," NBER Chapters, in: Investment in Human Beings, pages 9-49, National Bureau of Economic Research, Inc.
    3. Jacob A. Mincer, 1974. "Introduction to "Schooling, Experience, and Earnings"," NBER Chapters, in: Schooling, Experience, and Earnings, pages 1-4, National Bureau of Economic Research, Inc.
    4. Shahrukh Rafi Khan & Mohammad Irfan, 1985. "Rates of Returns to Education and the Determinants of Earnings in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 24(3-4), pages 671-683.
    5. Barro, Robert J, 2000. "Inequality and Growth in a Panel of Countries," Journal of Economic Growth, Springer, vol. 5(1), pages 5-32, March.
    6. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1, January.
    7. Tayyeb Shabbir, 1991. "Sheepskin Effects in the Returns to Education in a Developing Country," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 30(1), pages 1-19.
    8. Zafar Mueen Nasir & Hina Nazli, 2000. "Education and Earnings in Pakistan," PIDE Research Report 2000:1, Pakistan Institute of Development Economics.
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    Cited by:

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