Road to Openness: Implications of Globalization for Education in Pakistan

Abstract

The current study discusses the implications ofglobalization for education in Pakistan. Time seriesdata from 1980 to 2019 has been used. KOF Index of globalizationhas been used as a composite measure of globalization. This indexis based on three aspects of globalization: economic, social, andpolitical. For education, the study employed the annual data forthe adult literacy rate. Other supporting variables are governmentexpenditures, private consumption, and urban population. Thelong-run and short-run relationships have been determined byusing Johansen Co-integration and VECM, respectively. Theempirical results unequivocally show the existence of co-integration, which confirms the presence of a long-run relationshipin the model. The negative and significant value of the ECT (-1)term further defends the existence of the long-run relationship. Thestudy suggests that government should take measures to maximizethe fruits of globalization.