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Cost of Educational Deprivation: A Case of Pakistan

Author

Listed:
  • Nayar Rafique

    (Air University, A&AC, Kamra, Pakistan)

  • Idrees Khawaja

    (Senior Research Economist, Pakistan Institute of Development Economics, Islamabad, Pakistan)

Abstract

Being a developing country, with a hugely deprived educational profile, Pakistan is facing huge cost of its millions of uneducated and out of school population. Though we know that lack of education imposes costs on individuals and society, however no precise estimates of such costs are available. This research attempted to explain the cost associated with massive educationally deprived population in Pakistan by using HIES-PSLM 2018-19 dataset in the light of human capital theory and capability approach. The results showed gigantic loss of income for Pakistan due to the current educational profile of labor force which includes enormous population with no education or lower level of education. Given the results, we can say that if every individual in Pakistan receives at least ten year of schooling according to SDG Goal 4, then Pakistan could have thousands of billion more income which not only stimulate further economic growth but a wider development in every sphere of life at individual as well as collective level.

Suggested Citation

  • Nayar Rafique & Idrees Khawaja, 2020. "Cost of Educational Deprivation: A Case of Pakistan," International Journal of Economics and Financial Issues, Econjournals, vol. 10(5), pages 187-202.
    • Handle: RePEc:eco:journ1:2020-05-22
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    More about this item

    Keywords

    Pakistan; Development; Human Capital; Returns to Education; Cost; SDGs;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy
    • I2 - Health, Education, and Welfare - - Education
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty

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