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Relationship between School Education and Economic Growth: SAARC Countries

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  • Nadia Hanif

    (University of Management and Technology, Lahore, Pakistan,)

  • Noman Arshed

    (University of Management and Technology, Lahore, Pakistan.)

Abstract

For long increasing economic growth is the major objective of macroeconomic policy makers of the country. Many studies have tried to put forward a theory which can explain the pattern of gross domestic product growth, in this series Cobb-Douglass were most prominent in making a production function using physical capital and labor as inputs. But later studies highlighted that human capital is also a significant component of this production function. This study used three proxies for the human capital for the case of SAARC countries to see whether higher proxy has better marginal impact on the growth of the selected countries. The results for dynamic panel data models reveal that tertiary education enrollment has highest impact on growth as compare to primary and secondary education enrollment.

Suggested Citation

  • Nadia Hanif & Noman Arshed, 2016. "Relationship between School Education and Economic Growth: SAARC Countries," International Journal of Economics and Financial Issues, Econjournals, vol. 6(1), pages 294-300.
    • Handle: RePEc:eco:journ1:2016-01-38
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    3. Hafsa Qaiser & Hafeez ur Rehman & Noman Arshed, 2023. "Role of institutional quality on women's empowerment—A case of highly gender unequal Asian countries," Poverty & Public Policy, John Wiley & Sons, vol. 15(1), pages 48-75, March.
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    7. Mohammed N. Abu Alfoul & Ayman Hassan Bazhair & Ibrahim N. Khatatbeh & Adam G. Arian & Mahmoud N. Abu Al-Foul, 2024. "The Effect of Education on Economic Growth in Sub-Saharan African Countries: Do Institutions Matter?," Economies, MDPI, vol. 12(11), pages 1-18, November.
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    10. Raifu, Sisiaka Akande & Nnadozie, Obianuju Ogochukwu & Opeloyeru, Olaide Sekinat, 2021. "The Mediating Role of Institutional Quality in Human Capital-Economic Growth Nexus in Nigeria: Evidence from Aggregate and Gender Perspective," Journal of Economic Development, The Economic Research Institute, Chung-Ang University, vol. 46(4), pages 157-188, December.
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    More about this item

    Keywords

    Gross Domestic Product; Human Capital; Panel Cointegration;
    All these keywords.

    JEL classification:

    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development

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