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Education policy and its contribution to socioeconomic development of Nepal with reference to some selected Asian Countries

Author

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  • Gangadhar Dahal

    (University of Warsaw)

Abstract

Among a few crucial factors education is the most influential factor for the economic growth and socioeconomic development of a country. Basically, the short-run policy of education tries to address the short-term social and economic goals of the country through awareness programs on safety, health, environment etc. but in the long run, it is directly related to the Human resource development(HRD) and socio-economic development of a country. This research paper tries to focus on the instrumental role of education in human capital development and economic growth. In fact, most of the in developing countries like Nepal are facing the problems with the educational system, education attainment, and research and innovation. In a meaningful way, it is also pronounced as the human capital development policy. Economist Theodore Schultz invented the term in the 1960s to indicates the value of human capabilities. He believed human capital is like any other type of capital that can be invested in education and training to enhance the benefits for an improvement in the quality life and Socio-economic development. This research tries to dig out development strategies by using time series data of investment in all level of education, general enrolment ratio in various level of education, labor force participation and combined impact in GDP with the help of OLS method. The result shows that investment in education, training, and vocational education have the positive and significant role in economic growth and socio-economic development of Nepal and other developing countries.

Suggested Citation

  • Gangadhar Dahal, 2016. "Education policy and its contribution to socioeconomic development of Nepal with reference to some selected Asian Countries," Proceedings of Teaching and Education Conferences 3906633, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:itepro:3906633
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    File URL: https://iises.net/proceedings/3rd-teaching-education-conference-barcelona/table-of-content/detail?cid=39&iid=004&rid=6633
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    References listed on IDEAS

    as
    1. Khattak, Naeem Ur Rehman & khan, jangraiz, 2012. "The Contribution of Education to Economic Growth: Evidence from Pakistan," MPRA Paper 51180, University Library of Munich, Germany.
    2. Yong Jin Kim & Akiko Terada-Hagiwara, 2013. "A Survey On The Relationship Between Education And Growth With Implications For Developing Asia," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 4(01), pages 1-21.
    3. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Cited by:

    1. Gangadhar Dahal, 2016. "Education policies for cultivating student learning: The model of Finnish and Singaporean approach," Proceedings of Teaching and Education Conferences 3906631, International Institute of Social and Economic Sciences.

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    More about this item

    Keywords

    Education policy; socioeconomic development; OLS method;
    All these keywords.

    JEL classification:

    • I28 - Health, Education, and Welfare - - Education - - - Government Policy
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access

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