Nabila Asghar|Asma Awan|Hafeez ur Rehman
Human Capital and Economic Growth in Pakistan: A Cointegration and Causality Analysis
Government College University, Faisalabad|University of the Punjab|Government College University, Faisalabad|University of the Punjab|Government College University, Faisalabad|University of the Punjab
study attempt investigate role human capital terms education health economic growth pakistan 19742009using annual data adf pp ngperron tests utilized check stochastic properties variableslongrun relationship among variables confirmed johansen juselius cointegration test whereas longrun shortrun dynamics observed vecm specificationfor causality purpose vecm based causality todayamamoto causality tests employedstability model confirmed cusum cusumsqthe results indicate strong positive impact human capital economic growth despite fact pakistan spending less percentage gdp education health facilities create human capitalthe study concludes order reap maximum benefits human capital need formulate implement effective economic policies related provision education health facilities people